The ABA reports that the Consumer Financial Protection Bureau (CFPB) released a readiness guide for its new mortgage rules, most of which take effect early next year.
The guide includes a questionnaire that banks can use as a self-assessment tool to determine their progress in developing an implementation plan, adjusting policies and procedures, training employees, handling complaints, managing third-party relationships and other topics.
It also includes a list of frequently asked questions and resources for banks as they prepare to comply with the new rules.
Read More: ABA Reform Tracker
Link to Guide: 2013 CFPB Dodd-Frank Mortgage Rules Readiness Guide