Reading the CFPB Tea Leaves

January 21st is quickly approaching and so far we haven’t had any Dodd Frank Act related final rules issued by the Consumer Financial Protection Bureau (CFPB).  So what are they doing?  Well, lots of behind the scenes posturing and planning (I hope) for the multiple final rules that will be released in a very short period of time.

Speaking of the much-anticipated final rules, the most frequent question we’ve been asked lately is what will actually be released between now and January 21st?  The quick answer is much less than we thought two months ago.  As you may recall, the CFPB recently delayed the issuance of the integrated disclosures final rule.  So what’s left?  At a minimum it appears final rules related to the following will be issued between now and January 21st:

  1. Qualified Mortgage/Ability To Repay (A little birdy told me to anticipate a January 9th issuance of a final rule)
  2. Loan Originator Compensation
  3. Mortgage Servicing
  4. Appraisals
  5. High-Cost Mortgage
  6. Escrow Rules

I know, I know you’re on the edge of your seat bursting with anticipation just like me!  Bring it on CFPB!

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