May 12, 2015
Tuesday’s Regulatory & Legislative Round-Up
- The Consumer Financial Protection Bureau issued guidance to “remind lenders of their obligations under the Equal Credit Opportunity Act and it’s implementing Regulation B, to provide non-discriminatory access to credit for mortgage applicants using income from the section 8 housing choice voucher program.”
- A bipartisan House Bill was recently introduced to provide a temporary safe harbor for from the enforcement of integrated disclosure requirements under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act until January 2016 for those seeking to comply in good faith – this safe harbor would allow lenders to implement the new rules.
