CFPB releases new proposal to tweak January mortgage rules

The Consumer Financial Protection Bureau released another set of promised modifications to its January mortgage rules. The proposal addresses a broad range of topics — from loss mitigation procedures under Regulation X to the application of the CFPB’s loan originator compensation rules to bank tellers and administrative staff. The bureau said the clarifications and narrow revisions will resolve implementation issues identified by industry participants. Read on to learn about the proposed changes.