From the FDIC Press Release dated January 27, 2015
The Federal Deposit Insurance Corporation (FDIC) today announced the release of the second in a series of three new technical assistance videos developed to assist bank employees in meeting regulatory requirements. These videos address compliance with certain mortgage rules issued by the Consumer Financial Protection Bureau (CFPB). The first video, released on November 19, 2014, covered the Ability to Repay and Qualified Mortgage Rule.
The second video, released today, covers the Loan Originator Compensation Rule, and the third video, expected to be released in February, will cover the Servicing Rule. The three technical assistance videos are intended for compliance officers and staff responsible for ensuring the bank’s mortgage lending operations comply with CFPB rules. The second video can be accessed at https://www.fdic.gov/regulations/resources/director/technical/lo.html.
“Today’s release of the second technical assistance video on the new mortgage rules represents FDIC’s ongoing commitment to informing community banks about important regulatory issues and to help them manage regulatory changes in the consumer compliance area,” said Mark Pearce, Director of the Division of Depositor and Consumer Protection.
The FDIC’s technical assistance videos and additional information can be accessed at https://fdic.gov/regulations/resources/director/video.html.