There are many ways to violate military lending rules and some lenders are actively doing this. One lender just agreed to pay a $225,000 because they were not providing the interest rate adjustments the SCRA requires.
Software, including the CFPB platform edits, can identify many errors. However, those are not the only errors that can occur. Many HMDA fields, and data in your loan operating system that drives those fields, are dependent upon human decisions.
Does your bank have a new compliance officer? Does it have or need an enhanced compliance program? If you are starting or restarting a compliance program it takes a lot of elbow grease and you should begin with the fundamentals.
Third Time’s the Charm! On May 11, 2022, after issuing prior proposals in July 2020 and March 2021, the regulatory agencies released their final updated Flood Q&As. It is invaluable Guidance, and you will want to know what it says!
Sweeps, contests and lotteries are really part of advertising, right? Yes – these are typically used to promote various bank products and services but they are a special subset of the broader “advertising” requirements.
This webinar will focus on the key points that financial institutions need to be aware of relating to their real estate valuation program to ensure they are operating in compliance with Interagency Appraisal and Evaluation Guidelines and other regula