WASHINGTON (11/20/14)--A video addressing compliance with certain Consumer Financial Protection Bureau (CFPB) mortgage rules has been released by the Federal Deposit Insurance Corp. (FDIC).
The video is the first in a series of three new technical assistance videos designed to assist employees at financial institutions in meeting regulatory requirements.
The first video covers the ability-to-repay and qualified mortgage rule, and is intended for compliance officers and staff involved in ensuring a financial institution's mortgage lending operations comply with CFPB rules.
"The release of this video is part of the FDIC's ongoing efforts to inform supervised institutions about important regulatory issues," said Mark Pearce, director of the Division of Depositor and Consumer Protection. "The FDIC is committed to providing technical assistance to help community banks comply with recent regulatory changes."
According to the FDIC, the two additional videos in this series will be released in the upcoming months. They will focus on the rules concerning mortgage servicing and loan originator compensation.