The Bureau is proposing to postpone the August 19, 2019 conformity date when it comes to Mandatory Underwriting Provisions of the 2017 Final Rule—specifically, §§ 1041.4 through 1041.6, 1041.10, 1041.11, and 1041.12(b)(1)(i) through (iii) and (b)(2) and (3)—to November 19, 2020. The Bureau intends to publish a final rule with respect to the delayed compliance date for the Mandatory Underwriting Provisions of the 2017 Final Rule, if warranted after considering comments received on this proposal. Any rule that is final postpone the Rule’s conformity date for the required Underwriting Provisions will be published and turn effective prior to August 19, 2019. The Bureau seeks comment on this facet of the proposition.
VII. Dodd-Frank Act Section 1022(b)(2) Analysis
As talked about above, this proposition would wait the August 19, 2019 conformity date when it comes to Mandatory Underwriting Provisions regarding the 2017 Final Rule to November 19, 2020. Posted separately in this dilemma of the Federal join could be the Reconsideration NPRM, where the Bureau considers the effects of rescinding the Mandatory Underwriting Provisions of this 2017 last Rule.