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Cover of Bank Holding Company Supervision Manual

Consumer Compliance Handbook
November 2015 Update

The November 2015 update to the handbook includes revised interagency examination procedures for Regulation Z and Regulation X. The revised procedures reflect a series of amendments to Regulation Z and Regulation X, published by the Consumer Financial Protection Bureau (CFPB) in the Federal Register in December 2013, February 2015, and July 2015, that revise and integrate the disclosures received in connection with most closed-end mortgage loans. These new requirements were effective on October 3, 2015.

In addition, the attached procedures reflect various amendments to Regulation Z finalized after November 2013, and that are currently in effect. These include

  • Interagency amendments regarding higher-priced mortgage loan appraisal requirements issued in December 2013. The amendments provide additional exemptions for loans of $25,000 or less and for certain streamlined refinances. These revisions also contain special provisions applicable to manufactured home loans and extend the mandatory compliance date for those provisions until July 18, 2015.
  • Amendments finalized by the CFPB in November 2014 providing an alternative small servicer definition for certain nonprofit entities, an amended ability-to-repay rule exemption for certain nonprofit entities, and a post-consummation cure mechanism for loans that exceed the qualified mortgage points and fees limit, but are otherwise a qualified mortgage at consummation.
  • Other amendments issued by the CFPB between November 2013 and June 2015.

Filing Instructions

To maintain an updated print version of the handbook, use the following instructions:

Behind the “Regulation Z” tab (white):
Reg. Z • pp. 1–137 (dated 11/13)
Regulation Z (TILA) • pp. 1–189 (dated 11/15)
Behind the “RESPA” tab (white):
Reg. X • pp. 1–52 (dated 11/13)
Regulation X (RESPA) • pp. 1–54 (dated 11/15)

Consumer Compliance Handbook

Previous Update: November 2014