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The Federal Deposit Insurance Corporation (FDIC) has 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 Nov. 19, 2014, covered the Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rule.
The second video covers the Loan Originator (LO) 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.
"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.