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 Z High-Cost Mortgages Other Rules Policy Update communicates the Board’s intent to comply with the requirements for all of that apply to high-cost mortgage loans. Use this in conjunction with the Regulation Z High-Cost Mortgage Pre-Loan Counseling policy update to ensure your policy covers all requirements for high-cost mortgages.
