Compliance Essentials: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) and Federal Trade Commission Mortgage Acts and Practices Advertising (FTC MAP) Resource Guide

MBA Compliance Essentials: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule Resource Guide ©2016

Summary:

The MBA Compliance Essentials: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule Resource Guide is written to provide a base for development of your company's policies and procedures in this area.

Developed by:

• Mitchel H. Kider, Managing Member, Weiner Brodsky Kider PC
• Fed Kamensky, Member, Weiner Brodsky Kider PC
• Jason W. McElroy, Member, Weiner Brodsky Kider PC

Chapters include:

• Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)
• The Mortgage Acts and Practices Rule (MAPS Rule)
• Recent Enforcement Activity for UDAAP and MAPS Rule
• Model UDAAP Policies and Procedures
• Model Mortgage Acts and Practices Rule Policy
• Examples of Recent UDAAP and MAPS Rule Alleged Violations

*** Your purchase also includes complimentary access to the UDAAP Enforcement Actions Matrix.

Complimentary UDAAP Enforcement Actions Matrix Summary:

With the passage of the Dodd-Frank Act in 2010, Congress provided the Consumer Financial Protection Bureau (CFPB) with authority to protect consumers from unfair, deceptive or abusive acts and practices (UDAAPs). The CFPB's UDAAP rules exist to protect consumers from acts and practices that harm consumers, whether in addition to violations of specific statutory provisions such as RESPA and TILA or in their absence. Violations of UDAAP or MAP provisions may have severe financial, reputational, and regulatory impacts on these financial institutions.

MBA's Residential Policy group compiled a dynamic matrix of recent UDAAP enforcement actions. This matrix will be updated quarterly, so your company can stay current and in compliance.

Developed by:

• Justin Wiseman, Associate Vice President and Managing Regulatory Counsel, Mortgage Bankers Association
• Hanna Pitz, Regulatory Associate, Mortgage Bankers Association
• Sheraz Syed, Regulatory Associate, Mortgage Bankers Association