The Consumer Financial Protection Bureau (CFPB) has updated the Loan Originator Guide and the Home Ownership and Equity Protection Act (HOEPA) rule guide to reflect amendments made by Section 107 of the Economic Growth, Regulatory Relief and Consumer Protection Act.
The changes include a final rule to implement a new provision requiring appraisals for higher-risk mortgages that was added to TILA by the Dodd-Frank Act.
Read on for details of the rule updates.
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