It has always been said that no job is finished until the paperwork is done, and that is certainly true for your credit union and its IRS reporting responsibilities.
Since December 29, 1987 banks have been required to develop and deliver Adjustable Rate Mortgage (ARM) program disclosures for each different ARM program offered. The disclosures must be updated at least annually.
The deadline is approaching for compliance with “TRID 2.0.” The first TRID rules left us with lots of questions, but the 2017 changes have cleared up much of the confusion, while adding a few complexities.
Providing a timely Loan Estimate can be a challenge, and making mistakes can be costly. The first TRID rules left us with lots of questions, but the 2017 changes have cleared up much of the confusion.
Call it S.2155, the Crapo Act, the Economic Growth, Regulatory Relief and Consumer Protection Act, EGRRCPA, or Public Law No: 115-174— deregulation by any other name is just as sweet (and sour).
Recorded on June 27, 2018
Dodd-Frank Rollback, What this New Law Means to You
Call it S.2155, Economic Growth, Regulatory Relief and Consumer Protection Act, EGRRCPA, or Public Law No: 115-174, deregulation by any other name is just as sweet. The sour part is, deregulation will be more work in the short run.
After much industry confusion and concern regarding elements of the regulation, the CFPB released a proposal to update the TRID regulation in July 2016.
Recorded on June 12, 2018
Fair Lending - Do Your Lenders Know the Requirements?