Education loan examination procedures
These procedures include guidance for examination of all aspects of private education loans and examination of servicing practices in connection with all types of student loans.
Supervision and examinations
Conducting examinations is one of our key tools to ensure that supervised entities are complying with federal consumer financial law.
The CFPB Supervision and Examination Manual
The Supervision and Examination Manual is our guide for examiners to use in overseeing companies that provide consumer financial products or services. The manual describes how we supervise and examine these companies and gives our examiners direction on how to assess compliance with federal consumer financial laws.
We released Version 2.0 of the manual in October 2012. Since then, we have released new chapters and/or updated chapters, as listed below. Please review the list below to make sure that you are referencing the most recent version of the chapter that you are interested in.
Questions about the manual should be sent to CFPB_Supervision@consumerfinance.gov.
The Supervision and Examination Manual
CFPB Supervision and Examination Manual – Version 2.0
Updates to the manual
Reverse mortgage servicing examination procedures
These procedures provide guidance for examinations of reverse mortgage servicers. After completing the risk assessment and examination scoping, examiners should use these procedures, in conjunction with the compliance management system review procedures, to conduct a reverse mortgage servicing examination.
Gramm-Leach-Bliley Act (GLBA) examination procedures
The procedures that examiners use for reviewing compliance with GLBA’s implementing Regulation P [12 CFR 1016] have been revised to include a new exception to GLBA’s annual privacy notice requirement. This new exception was created through a Dec. 4, 2015, amendment to GLBA Section 503.
Military Lending Act examination procedures
Applicable for Examinations with Review Periods after Oct. 3, 2016
These updated Military Lending Act (MLA) examination procedures will be used by examiners for review periods after October 3, 2016. The procedures have been updated to reflect Department of Defense updates to the MLA regulation, including the expansion of the MLA’s coverage.
Mortgage servicing examination procedures
After completing the risk assessment and examination scoping, examiners should use these procedures, in conjunction with the compliance management system review procedures, to conduct a mortgage servicing examination.
Supervisory Highlights Mortgage Servicing Special Edition
In this eleventh issue of Supervisory Highlights, we share findings from recent supervisory examination observations in mortgage servicing. The report also discusses Supervision’s approach mortgage to servicing exams, including a description of recent changes to the mortgage servicing chapter of the CFPB Supervision and Examination Manual.
Equal Credit Opportunity Act Procedures
For fair lending scoping and examination procedures, the CFPB is temporarily adopting the FFIEC Interagency Fair Lending Examination Procedures that are referenced in the examination program.
ECOA baseline review procedures
The Equal Credit Opportunity Act (ECOA) Baseline Review Modules will be used by examiners during ECOA baseline reviews to identify and analyze risks of ECOA violations, to facilitate the identification of certain types of ECOA and Regulation B violations, and to inform fair lending prioritization decisions for future CFPB reviews.
TILA Integrated Disclosure Procedures
Applicable for examinations after the October 2015 effective date
TILA Integrated Disclosure Procedures have been updated to include 10/3/15 revised effective date for the Know Before You Owe regulations.
Mortgage origination examination procedures
These mortgage origination examination procedures consist of modules covering the various elements of the mortgage origination process; each module identifies specific matters for review.
Disclaimer
Please note: This Supervision and Examination Manual provides internal guidance to our supervisory staff. It does not bind the CFPB and does not create any rights, benefits, or defenses, substantive or procedural, that are enforceable by any party in any manner. While every effort has been made to ensure accuracy, examination procedures should not be relied on as a legal reference.