~~Attached please find an updated Roadmap to the Dodd-Frank Act Mortgage Rulemakings. The updates include:
• The CFPB released its final KBYO rule, effective August 1, 2015.
• The Federal Reserve Board, the CFPB, the FDIC, the FHFA, the NCUA, and the OCC, issued a final rule supplementing their January 2013 interagency appraisal rule, which requires appraisals with interior inspections in some cases. The amendment exempts certain refinances and transactions secured by a new manufactured home. QM loans are exempt.
• HUD finalized its definition of QM loan.