Consumer Compliance Handbook
June 2010 Update

The June 2010 update to the handbook reflects recent regulatory changes to three chapters: Regulation C (Home Mortgage Disclosure), Regulation DD (Truth in Savings), and Regulation X (the implementing rule for the Real Estate Settlement Procedures Act (RESPA)).

Updates to the Regulation C examination procedures reflect changes to the threshold for the reporting of pricing information on higher-priced loans. The changes to Regulation C conform the threshold for rate spread reporting to the definition of �higher-priced mortgage loans� included in amendments to Regulation Z (Truth in Lending).

Changes to the Regulation DD examination procedures address the requirement that all depository institutions must disclosure aggregate overdraft fees on periodic statements. The changes also address the requirements for balance disclosures provided to consumers through automated systems.

RESPA examination procedures have been updated to reflect regulatory changes by the Department of Housing and Urban Development (HUD) to Regulation X. A number of technical changes provide streamlined mortgage servicing disclosure language, eliminate outdated escrow account provisions regarding the phase-in period, and permit an �average charge� to be listed on the Good Faith Estimate (GFE) and HUD-1/1A Settlement Statement. Key substantive changes include a standardized and binding GFE form and revised HUD-1/1A Settlement Statement.

Filing Instructions
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Consumer Compliance Handbook

Previous Update: November 2009