Most Popular Compliance Content
Reg CC Extended Hold Notices
02/12/2017
Our front line staff creates the hold notice and then sends to the Fraud Dept to review and put on the system. Often times the front line does the Hold Notice Wrong. If we change the Hold Notice we send the customer a new one. If we decide the hold is not necessary are we required to send notification to the customer informing them their funds are available sooner then we originally informed them?
NMLS # Required on GFE? (SAFE ACT/Reg Z)
02/12/2017
I'm the internal auditor and reviewing compliance with SAFE Act and Reg Z for including unique identifier on loan documents. We originate our reverse mortgages through two investors. The documents are produced through the investor website. Does the NMLS # have to be on the GFE? I'm not seeing it on the GFE for either of our investors. What disclosure documents exactly is it required? (they have on the note, mortgage, application)
Which credit bureau to disclose
02/12/2017
If you use a vendor that provides credit scores from all 3 bureaus and you only use the score/reasons from one bureau for the denial, do you use that specific bureau's name and address or the actual vendor that supplied the report for your adverse action notice?
Wire Transfers w/o INC, LLC, CORP Included (Risks)
02/12/2017
We have been receiving several incoming wires sent to the beneficiary name (business account) without the INC, LLC, CORP included. Will this cause an issue or will it apply to any risks that we should be aware of at this point?
Relocating Contents of Safe Deposit Boxes (SCRA)
02/05/2017
We are closing a branch and there are safe deposit boxes that are protected under the SCRA. We're thinking it's okay to drill the boxes and relocate the contents to another safe deposit box at another branch. Would you agree that this is okay to do?