12 CFR §1014.5 — Recordkeeping requirements (Regulation N / Mortgage Acts and Practices Rule, CFPB)
Regulation N §1014.5 imposes a 24-month recordkeeping requirement on persons subject to the MAP Rule for evidence of compliance with mortgage-advertising commercial communications, covering ad copy, materials substantiating claims, and contact information for substantial-assistance providers.
Verbatim regulatory text
Verbatim provisions from 12 CFR §1014.5 — Recordkeeping requirements (Regulation N / Mortgage Acts and Practices Rule, CFPB) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1014.5(a)
Any person subject to this part shall keep, for a period of twenty-four months from the last date the person made or disseminated the applicable commercial communication regarding any term of any mortgage credit product, the following evidence of compliance with this part:
12 CFR §1014.5(b)
Any person subject to this part may keep the records required by paragraph (a) of this section in any legible form, and in the same manner, format, or place as they keep such records in the ordinary course of business. Failure to keep all records required under paragraph (a) of this section shall be a violation of this part.
12 CFR §1014.5(a) — enumerated items (chapeau recall fix)
(1) Copies of all materially different commercial communications as well as sales scripts, training materials, and marketing materials, regarding any term of any mortgage credit product, that the person made or disseminated during the relevant time period; (2) Documents describing or evidencing all mortgage credit products available to consumers during the time period in which the person made or disseminated each commercial communication regarding any term of any mortgage credit product, including but not limited to the names and terms of each such mortgage credit product available to consumers; and (3) Documents describing or evidencing all additional products or services (such as credit insurance or credit disability insurance) that are or may be offered or provided with the mortgage credit products available to consumers during the time period in which the person made or disseminated each commercial communication regarding any term of any mortgage credit product, including but not limited to the names and terms of each such additional product or service available to consumers.