If a mortgage transaction involves residential property that is new construction, and the mortgage may not close for months,
will this impact when you provide the good faith estimate to the borrower?
At press time, the National Credit Union Administration (NCUA) and all of the federal banking agencies (except the Office of Thrift Supervision) had approved the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) regulations.READ MORE
NCUA adopts a standardized, easy-to-understand privacy notice for consumers. The National Credit Union Administration
(NCUA) along with the other federal regulators issued a model privacy form credit unions may use to comply with the Privacy
Act’s initial and annual privacy notice requirements. NCUA’s regulations apply to all federally...
Bellco CU Wins UBIT Challenge Last month the U.S. District Court in Colorado ruled in favor of Bellco Credit Union, Greenwood Village, Colo., about limits on the Internal Revenue Service’s authority to collect unrelated business income taxes (UBIT) on several products. The court ruled income derived from the sale of credit... READ MORE