It’s the end of the year…but many things to look forward to…

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

Happy New Year to all..