Compliance Action, Volume 13, Number 1

RESPA: HUD Hits §8 Homers (3 Action Steps)

By Lucy Griffin

HUD's investigation into §8 violations nets significant civil money penalties and more.

Disclosures: What Consumers Really Want (7 Action Steps)

By Lucy Griffin

Hearings and consumer tests conducted by the Fed reveal what information consumers most need to know and the best way to present it to them.

Calculating Price Spreads (Chart)

By Lucy Griffin

In light of The Fed's revised Reg Z proposal, there would be three techniques for calculating the price spread of a mortgage.

Compliance Notes

• MSBs and Cashing Checks
• Fee Base for High Cost Mortgages
• New CAC Members
• FRB Profits
• More Local Checks
• Training for Directors

Compliance Calendar

In the Editor's Opinion
Could Less Be More?

By Lucy Griffin

Concentrating less on what the law requires and more on what consumers can understand could help provide more effective disclosures.

Compliance Q & A

• Providing Corrected Disclosures
• Reporting on an Exempt Customer
• Acceptable Evidence of Flood Insurance
• To Escrow or Not To Escrow

FDIC on Flood

By Lucy Griffin

The institution and the borrower is exposed to risk if flood insurance coverage lapses.