Description
Financial institutions have been implementing new regulations through board-approved policies for decades. As existing regulations are revised and new regulations are published existing polices need to be updated. Policy Updates are designed to simplify the task of updating existing policies, regardless of where the existing requirement is lodged. The Regulation X Homeownership Counseling Rules Policy Update communicates the Board’s intent to comply with the §1024.20 requirements to assure applicants for federally related mortgage loans receive a clear and conspicuous written list of homeownership counseling organizations.
