SOURCE: BuckleySandler LLP

BuckleySandler LLP

October 09, 2014 12:40 ET

BuckleySandler & American Bankers Association Release CFPB Mortgage Origination Deskbook

Deskbook to Provide 'One-Stop Shop' Guidance for Mortgage Origination Compliance

WASHINGTON, DC--(Marketwired - Oct 9, 2014) - BuckleySandler LLP, a leading financial services and criminal & civil enforcement defense law firm, is pleased to announce the availability of "The New CFPB Mortgage Origination Rules Deskbook." Written by BuckleySandler partner Joseph Reilly and published in partnership with the American Bankers Association, the CFPB Deskbook is the definitive guide for bank and nonbank mortgage originators navigating the Consumer Financial Protection Bureau's (CFPB) new mortgage origination rules. 

"Our goal was to consolidate the numerous sources of CFPB regulatory guidance into a clear, organized format," said Reilly. "We wanted to provide comprehensive descriptions from not just the rule text and official commentary but also from CFPB webinars, compliance guides, preamble material from federal register releases and informal compliance discussions with CFPB staff. We hope this will be a 'one-stop shop' for origination compliance."

The CFPB Deskbook is an all-inclusive compilation of all the mortgage origination rules made by final by the CFPB in January 2014, including ability-to-repay and Qualified Mortgage requirements, points and fees, loan originator compensation, appraisals, high-cost mortgages and Qualified Mortgage provisions for Federal Housing Administration and Veterans Affairs loans, among others. It also offers a summary of the TILA-RESPA disclosure integration taking effect next year.

Benjamin K. Olson, BuckleySandler partner and former Deputy Assistant Director in the CFPB's Office of Regulations who was involved in the development of many of the rules covered by the CFPB Deskbook, describes it as "an invaluable resource with the potential to change the way regulations are understood."

The CFPB Deskbook is available in PDF and hard copy formats. Requests for copies should be sent to CFPBDeskbook@buckleysandler.com.

With more than 150 lawyers in Washington, New York, Los Angeles, Chicago and London, BuckleySandler provides best-in-class legal counsel to meet the challenges of its financial services industry and other corporate and individual clients across the full range of government enforcement actions, complex and class action litigation and transactional, regulatory and public policy issues. Operating in the United Kingdom as BuckleySandler International LLP, a limited liability partnership incorporated in England and Wales, for the practice of US law. The Firm represents numerous national and international leading financial services institutions.  Online: www.buckleysandler.com; Twitter: https://twitter.com/BuckleySandler; InfoBytes Blog: http://www.infobytesblog.com.

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