Most Popular Compliance Content
List of High Risk Customers Regulation (AML/BSA)
02/12/2017
What bank regulation is it that requires them to develop a list of high risk customers? OFAC?
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)
Notification if Lapse in Coverage Occurs (Flood)
02/05/2017
When there is a mortgage on a non-residential condo unit and the property requires flood insurance which is provided by the condo association, what is the best practice for the mortgagee on the unit so as to be notified if a lapse in coverage occurs? Our borrower has the inside of the unit covered for flood, but the condo association is not otherwise providing us with information on the common areas its policy covers.
Open-end lines and HMDA
02/05/2017
If we are required to report open-end lines of credit for HMDA in 2018, will this include, unsecured credit cards and/or commercial lines of credit?