Vendor Guru Q&A - Lending

Latest Lending - Fair Lending Topics

Understanding what ROV means

02/04/2024

What is an ROV? I have not heard of this term before!

Risks of promoting selected realtors

02/04/2024

What is the big deal with a mortgage loan originator trying to increase their sales volume by promoting the realtors that they work with and that they know also do well? Doesn’t this ultimately help everyone in the bank to do better too?

Review of Valuation procedures are required

01/28/2024

I didn’t know that this was something that the bank needed to have in place. Is this something new and is it required?

Using Marketing Servicing Agreements

01/28/2024

Are Marketing Servicing Agreements or MSAs legal?

Expanding Fair Lending testing

01/14/2024

We don’t currently have our appraisal desk included in any fair lending reviews. Is this something that we should consider?

Banks’ responsibility for third-party appraiser actions

01/07/2024

How could an issue with an appraiser be turned into a fair lending issue if the bank was not the one involved with a discriminatory issue?

Biggest Compliance Penalty in 2023

01/07/2024

What was the biggest penalty surprise this year?

Compliance hot buttons in 2023

12/31/2023

What might be the biggest change in 2023?

Including appraisals in complaints tracking

12/31/2023

How would our complaints program be utilized to capture information related to appraisals and fair lending issues?

Is email receipt for the LE sufficient?

12/24/2023

We mailed the borrower’s Loan Estimate and they emailed us that it was received, and they want to proceed with the loan. Can we act on this emailed notice?

Commercial credit document imaging

10/13/2024

What types of commercial credit documents are imaged by financial institutions?

Reporting property location when multiple properties

10/06/2024

If I have a loan secured by four properties, which geocode do I use for HMDA reporting?

Collateral documents

10/06/2024

What types of collateral documents are commonly imaged by financial institutions?

New fingerprints required on a newly hired MLO?

09/29/2024

We have a new employee who was registered as an MLO at another financial institution. Upon updating their NMLS registration for our employment, we learned their fingerprints are over 3 years old. Can they still originate loans with us?

Disclosures for Payment Date Change

09/29/2024

When you are doing a modification to change a payment date on a loan do you need to give the Fed Box or other Reg Z disclosures?

Latest Lending - Fair Lending Topics

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