CFPB Looks To Reform Regulation Z Mortgage Loan Originator Rule
The CFPB issued a Request for Comment related to its Regulatory Flexibility Act review of the Regulation Z Mortgage Loan Originator Rule.
Pursuant to section 610 of the Regulatory Flexibility Act, the CFPB is reviewing the Mortgage Loan Originator Rule for the impact it has had on small entities since the effective date. This Request for Comment seeks information that may assist the CFPB in determining whether the Regulation Z Mortgage Loan Originator Rule should be continued without change, or if it should be amended or rescinded to minimize any significant economic impact of the rule on a large number of small entities, as required by the Regulatory Flexibility Act.
You can access the Request for Comment here: https://www.consumerfinance.gov/rules-policy/notice-opportunities-comment/open-notices/regulation-z-mortgage-loan-originator-rules-review-pursuant-to-the-regulatory-flexibility-act/.
You can read more about the Regulation Z Mortgage Loan Originator Rule here: https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/loan-origination-rule/.
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