Major HMDA Changes are just a year away! There will be new Demographic Information collection forms, and you’ll be reporting different data in a different format, to a different agency, using a different method. Are you ready?
Both ECOA and FCRA contain requirements for providing notice of action taken. Examiners closely scrutinize denial notices for compliance. Adverse action violations are frequently cited in exam reports.
What have you missed in lending compliance this year? The answer is, you don’t know what you don’t know. We’re here to help you ensure you haven’t missed a critical update or compliance requirement.
Section 8 of RESPA prohibits unearned fees and kickbacks. Over the years HUD issued hundreds of enforcement actions involving Section 8. In 2011 authority for enforcing RESPA transferred from HUD to the Consumer Financial Protection Bureau.
January 1, 2017: That is the date that some of the HMDA rule changes will affect your process. Will your financial institution be ready? Will you have a revised process in place to begin gathering and testing data?
Whether you are taking a mobile home as a part of a loan workout or to help provide affordable housing in your market, there are many myths and truths about your compliance obligations and you need to know the difference.
Requiring spouses (or anyone) to sign a loan – or the appearance your loan officers are making such a requirement – is a significant fair lending issue. Fair Lending is a perennial hot topic with regulators.
The Department of Defense amended its Military Lending Act rules and compliance is mandatory beginning October 3, 2016. This information-packed program prepares participants for the deadline.
A note from the Presenter – David Dickinson:
“Most lenders think they understand these topics but the proof is in the errors they commit. BEFORE you can understand HMDA, Truth in Lending, RESPA, denials, etc.