The annual NMLS renewal period for 2018 began on November 1, 2017, and ends Sunday, December 31, 2017. Individuals and businesses are encouraged to renew their licenses or registrations early, so there is no impact to their business in 2018. The renewal information is available here. If the renewal process is not completed prior to December… Read More »
From the CFPB – The Bureau is pleased to announce the beta launch of the new HMDA Platform. The main objective of the beta release is to provide financial institutions an opportunity to become familiar with the HMDA Platform and, in particular, determine whether their sample LAR data complies with the reporting requirements outlined in… Read More »
October’s Recap is now available here. Passwords to access the blog posts, and blog posts are only for CSG owners and retained clients. These should not be shared outside of the organization. Blog posts generally contain only a summary of any requirements, and do not represent all potential impact on the organization. For further details… Read More »
The CFPB released version 5.0 of the TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide. The revised version incorporates the recent amendments to the rule that became effective on October 10, 2017. Compliance with the amendments will be required for applications received on or after October 1, 2018. Updates to the Guide include: requirements and guidance on current requirements… Read More »
The CFPB has updated their cart Collection and Reporting of HMDA Information about Ethnicity and Race. Additionally, the CFPB has published a new chart, Reportable HMDA Data: A Regulatory and Reporting Overview Reference (“Reporting Reference Chart”) intended to be used as a reference for data points required to be collected, recorded, and reported under Regulation… Read More »
From FIL-51-2017: Summary: The Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) are issuing designated key Home Mortgage Disclosure Act (HMDA) data fields to support the efficient and effective evaluation of financial institutions’ compliance with HMDA’s requirements. Statement… Read More »
OCC Bulletin 2017-35 The Office of the Comptroller of the Currency (OCC) issued the “Flood Disaster Protection Act” booklet of the Comptroller’s Handbook. This revised booklet replaces a similarly titled booklet issued in May 1999. The revised booklet provides information on changes to the flood insurance requirements resulting from recent amendments to the Flood Disaster… Read More »
August’s Legislative Recap is now available. Let us know if you have any questions. Passwords to access the blog posts, and blog posts are only for CSG owners and retained clients. These should not be shared outside of the organization. Blog posts generally contain only a summary of any requirements, and do not represent all… Read More »
Risk Management Guidance for Higher-Loan-to-Value Lending Programs in Communities Targeted for Revitalization The OCC issued Bulletin 2017-28 regarding circumstances under which banks may establish a program to originate certain higher-LTV loans, and OCC’s supervisory considerations regarding such programs. These programs may be eligible for Community Reinvestment Act credit. The guidance provides information about the required… Read More »
The FFIEC released its HMDA Examiner Transaction Testing Guidelines for institutions that report HMDA data. The Guidelines will apply to examination of HMDA data collected beginning in 2018 and reported beginning in 2019. From the CFPB: The Guidelines will help ensure accurate data and address reporting burden concerns When examining financial institutions, federal supervisory agencies… Read More »
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