Latest Compliance - HUD Topics

by Richard Insley

As July came to a close, the financial institution regulatory agencies promulgated final regulations to implement the National Flood Insurance Reform Act of 1994 ("Reform Act").

HUD's latest rulemaking delves deeper into bank holding companies, defined as controlled business arrangements for purposes of RESPA, and continues the HUD directed forced march away from customer

RESPA: Where in the Regulation is that Signature Requirement?

Question: The Good Faith Estimate model form contains space for obtaining the consumer's signature acknowledging that they have received the estimate.

HUD has released a new final rule on permissible referrals and required notices for controlled business arrangements.

By Richard Insley

Question: In our effort to review our entire loan portfolio for flood insurance compliance, we have identified a vendor who will certify our entire portfolio at a very low cost if we retain

After more than a quarter century of disclosing the costs of credit, there is movement toward re-evaluating the methods used to disclose costs in the Truth in Lending and Real Estate Settlement Pro

Question: Our lending staff has been approached by a mortgage broker who would like to refer loan clients to the bank. He would charge the bank a fee for the referral.