January 21st a BIG day for regulations:
- ATR/QM Rule – Ability to Repay/Qualified Mortgage; Issued May, 2011, originally to come out in final 4/12 – Rule before January 21, 2013, implementation date unknown
- HOEPA Rule – High Cost Mortgage Loans (Reg Z) issued July 9, 2012, Comments submitted September 9 – Rule before January 21, 2013, implementation date unknown
- Loan Officer Compensation Rule – Mortgage Originator Standards (Reg Z) issued August 17, 2012, Comments due October 16, 2012 – Rule before January 21, 2013, implementation date unknown
- Servicing Rule – Mortgage Servicing (Regulation X; Reg Z) issued August 10, 2012, Comments due October 9, 2012 – Rule before January 21, 2013, implementation date unknown
- Escrow Rule – Requirements for Escrow Accounts (Reg Z) Rule before January 21, 2013, implementation date unknown
- ECOA Appraisal Disclosure Rule – Final rule before January 21, 2013, implementation date unknown
More to look forward to later in the year:
- HUD Disparate Impact Rule – Final rule issuance date and implementation date unknown
- QRM rule – Six rule makers (not including CFPB) Final rule to be published after QM. Effective date unknown
- RESPA-TILA Integration Rule – TILA/RESPA Mortgage Disclosure Integration (Regulation X; Reg Z) Proposed rule issued July 9, 2012, First comments due and submitted September 7, 2012, Second (main set) due November 6, 2012. Final rule and effective date unknown
- Basel III Rule- Three rule makers ( FRB, OCC & FDIC) Issued June 7, Comments due October 22, 2012. Final Rule, effective date, unknown
- HMDA Pre-Rule – Home Mortgage Disclosure Act (Reg C) Proposal and final rule dates unknown
- Loan Originator Anti-Steering Rule – Proposal and final rule dates unknown
