Compliance

NCUA indicates some of the most common consumer complaints are related to unauthorized transactions and Regulation E. READ MORE

It would be a rare win-win if the new bureau could streamline the mortgage process for lenders in a way borrowers could understand. READ MORE

Proper preparation can be the 'transactional lubrication' your CU needs to reduce the regulatory friction of an exam. READ MORE

Are individuals engaged in mortgage loan modifications required to register on the Nationwide Mortgage Licensing System & Registry? READ MORE

FMS amended its reclamation rules, effective Oct. 19, 2011. READ MORE

Comments are due by Dec. 19, 2011. READ MORE

Guide will help mortgage loan originators through the SAFE Act annual renewal process. READ MORE

Any new requirements that may emerge over the horizon will only add to the load CUs already must shoulder. READ MORE

Penalties for violating ECOA can be quite severe. Just ask a small bank in Texas. READ MORE

As this year winds down and we consider all the regulatory changes that have occurred, it’s important to reflect on one issue that might not always have been front and center: your credit union’s policies and procedures.  READ MORE

If you remember last summer, NCUA’s Office of Consumer Protection notified over 1000 federal credit unions across the country of their eligibility for low income designation.  NCUA’s initiative was in part due to President Obama’s relief and recovery package to help drought stricken states across the country.   Many of you accepted the designation; however, do [...]

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to purchase only qualified mortgages as of January 10, 2014. For those of us that follow the secondary mortgage market and compliance regulations, this shouldn’t be much of a surprise.   The new CFPB rule allows for loans to be underwritten as either [...]

It’s here! Last week the CFPB issued the new final version of the remittance transfer rule. The final rule, which was originally supposed to be effective in February, has now been re-issued. The CFPB has given financial institutions additional time to comply with the rule so the new effective date is October 28, 2013. This [...]