Banker's Compliance Consulting Blog http://www.bankerscompliance.com/ en Banker's Compliance Consulting 2006 120 CFPB HMDA Webinar http://www.bankerscompliance.com/blog/latest/cfpb-hmda-webinar.htm The CFPB has posted its second webinar in its series designed to get you ready for the 2018 HMDA changes. This one covers “Identifiers”, including those for the entity/institution (Legal Entity Identifier/LEI); application/loan (Universal Loan Identifier/ULI); property (State, county, and census tract information); and Originator (NMLSR ID). It also discusses data points related to applicants and borrowers, such as application and action taken dates, and the collection of applicants’ ethnicity, race, and sex.

The webinar gets into some useful details. For example, if the applicant provides some demographic information, but also indicates that they don’t want to provide it, you report what the applicant provided on an application taken by mail, phone or internet. Of course, there are a number of different scenarios that one can come up with, which is one of the reasons we've put together a webinar on just the Demographic Information. So, be sure to join us on March 16, 2017.

The CFPB webinar also discusses reporting credit scores, income, application channels, automated underwriting systems, Debt-to-Income and Loan-to-Value ratios. Granted, you probably just got your 2016 data submitted, so the last thing you probably feel like doing is starting in on 2018, but it really will be here before you know it!

]]> Fri, 03 Mar 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/cfpb-hmda-webinar.htm Diane Dean CRA Notice Changes for FDIC Banks http://www.bankerscompliance.com/blog/latest/cra-notice-changes-for-fdic-banks.htm Here’s one that seemed to miss most everyone’s radar. On January 18, 2017, the FDIC changed the CRA Notice requirements. Specifically, FDIC regulated banks need to change the CRA Notice in both main and branch offices to include:

1) A website informing readers about submitting comments electronically

"You may also submit comments electronically through the FDIC’s Web site at www.fdic.gov/  regulations/cra"

AND

2) Refer to the FDIC contact as the “FDIC Director” instead of “FDIC Manager”.

If the FDIC is your primary regulator, you need to make these changes and post new notices ASAP. You can find the model wording in Appendix B to Part 345 (last page, center column).

]]> Fri, 24 Feb 2017 20:01:00 -0600 http://www.bankerscompliance.com/blog/latest/cra-notice-changes-for-fdic-banks.htm David Dickinson Military Lending Act Website Issues http://www.bankerscompliance.com/blog/latest/military-lending-act-website-issues.htm Information posted on the Military Lending Act’s Website indicates that there was a processing issue with some multiple record requests made between February 9th and February 15th. If you tried a multiple record request during that time that didn’t go through, you should resubmit it now.

There is technical support available at 1-800-477-8227 for general assistance and for any issues related to the website, such as connectivity, access, error codes, etc.

]]> Tue, 21 Feb 2017 11:03:00 -0600 http://www.bankerscompliance.com/blog/latest/military-lending-act-website-issues.htm Diane Dean HMDA Training in 2017 http://www.bankerscompliance.com/blog/latest/hmda-training-in-2017.htm Need help with the 2018 HMDA Changes? We've got what you need. Below you will find our "menu" of HMDA training solutions for the coming year.

We have in-depth webinars for those are completely new to the changes as well as webinars for those that just need a quick overview. We have created webinars specifically for lenders that will teach them only what they need to know. You may also notice that we will be offering some topics more than once...earlier in the year for those that want to get a jump on the changes and later in the year for those that need a quick refresher.

Registration is now open for the following:

Please visit our Webinars page for more information and to register.

]]> Fri, 17 Feb 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/hmda-training-in-2017.htm Amy Kudlacek 2018 HMDA Demographic Information Webinar http://www.bankerscompliance.com/blog/latest/2018-hmda-demographic-information-webinar.htm On January 1, 2018, (less than 12 months away!), you MUST start using the new Fannie Mae Form 1003 with the new Demographic Information. But, did you know you can actually start using the new 1003 Form now? Whether you do or don't is a management decision but what if you do? If you use the new 1003 and collect demographic information in 2017, you obviously will not report it on the 2017 LAR, because the new fields won't be on the LAR. On the other hand, if you use the new 1003 in 2017 and the loan doesn't close until 2018, you have the “option” of reporting the demographic information on the 2018 LAR OR you could just report as we do today.

There's a lot of changes when it comes to the new Demographic Information and it's much more complex than today's rules. Join us for our one-hour 2018 HMDA Demographic Information Webinar on March 16, 2017, get the answers to your burning questions.

Register Today!

]]> Thu, 09 Mar 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/2018-hmda-demographic-information-webinar.htm Deb Irving Flood Insurance Compliance Webinar http://www.bankerscompliance.com/blog/latest/flood-insurance-compliance-webinar.htm Are you drowning with all the changes regarding flood insurance requirements? Understandably it’s difficult to keep your head above water, with what’s changed over the last several years, what’s been proposed, effective dates, etc. It all started in October 2011 when the Agencies finalized their Interagency Questions and Answers Regarding Flood Insurance. In July 2012, Congress passed the Biggert-Waters Act and then in March 2014, the Homeowner Affordability Act was passed. Most recently, the October 2016 proposal on Private Flood Insurance has also stirred things up. While there’s no final rule yet, it is coming. With all this change comes much confusion. We are here to help!

Join us for our two-part webinar series, Flood Insurance Compliance. This is four hours of training divided into two companion webinars without duplication. We will address everything you need to know about the flood insurance compliance requirements including the latest requirements and guidance including:

  • Ongoing Reform
  • Risk Management
  • Flood Determinations
  • Special Flood Hazard Area Notice
  • How Much Flood Insurance Is Required?
  • Determining Insurable Value
  • Multiple Buildings\
  • Detached Structure Exemption
  • Escrow Requirements
  • Force Placement Requirements
  • Monitoring Requirements

Register Today!

]]> Wed, 15 Feb 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/flood-insurance-compliance-webinar.htm Deb Irving Applicants & Applications Webinar http://www.bankerscompliance.com/blog/latest/applicants-and-applications-webinar.htm Have you ever had an applicant apply for a home loan, but they’re taking their time finding that perfect home? When does your 30-day clock to take action start? How long can that application sit on your desk? While you do have a request for credit (application), you don’t have a complete application (because you’re missing the property address). The 30-day clock (under Regulation B) doesn’t start until you have a complete application. The length of time you let the applicant try to find a property is up to bank management. However, you could always send a notice of incompleteness, which will specify what you need and a “drop dead” date if they don’t provide it. Just remember; however, if you deny the application at any point, you owe the applicant an adverse action notice within 30 days.

Looking for more answers to burning questions during the application process? Join Banker’s Compliance Consulting for a two-hour Applicants & Applications webinar. This webinar will cover the requirements and guidance related to:

  • What is considered a loan application?
  • ECOA vs. HMDA vs. TRID?
  • When does an inquiry become an application?
  • What is a pre-qualification?
  • If I have a pre-qualification, do I have to do anything?
  • What is a pre-approval?
  • If I have a pre-approval, do I have to do anything?
  • Must an application be in writing?
  • What about applications not received in person?
  • Must applications be signed?
  • Can I require a spouse or someone else to sign?
  • When can I require someone to guaranty or co-sign?

Register Today!

]]> Thu, 02 Mar 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/applicants-and-applications-webinar.htm Deb Irving BCC Webinars (February-March 2017) http://www.bankerscompliance.com/blog/latest/bcc-webinars-feb-mar-2017.htm We've got some great Webinars coming up in the next couple months. Be sure to check them out! 

February 2017 - Mortgage Life Cycle
This 4-part webinar series will guide you through the compliance milestones that arise during the mortgage loan process, in chronological order. Part 1 is February 2nd, Part 2 is February 9th, Part 3 is February 16th and Part 4 is February 23rd. Join us for this truly unique presentation!

Febuary 8, 2017 - Escrows From A to Z
Escrow rules can be very complex. Join us as we walk you through the rules related to escrow account compliance.

February 22 & March 2, 2017 - Flood Insurance Compliance

This 2-part webinar series will guide you through the rules related to flood insurance compliance. This is 4 hours of training without duplication and is a great overview of the requirements. Let us get you on the path to success!

March 9, 2017 – Applicants & Applications
This webinar will address: What’s considered a loan application? ECOA vs. HMDA vs. TRID? When does an inquiry become an application? What is a pre-qualification? If I have a pre-qualification, do I have to do anything? What is a pre-approval? If I have a pre-approval, do I have to do anything? Must an application be in writing? What about applications not received in person? Must applications be signed? Can I require a spouse or someone else to sign? When can I require someone to guaranty or co-sign?

March 16, 2017 – 2018 HMDA Demographic Information
In 2018, collecting and reporting “Demographic Information” will be MUCH MORE COMPLEX than the Government Monitoring Information (GMI) rules of today! Come listen to what it’s all about!

March 22, 2017 – Regulation B-Joint Intent
Learn the who, what, when, where and how of documenting an applicant’s intent to be a joint applicant. Joint intent is often something that lenders assume or take for granted; however, even innocent assumptions can get your financial institution into a lot of hot water!

These Webinars include:

A Comprehensive Reference Manual
The manual will tell you everything you need to know including citations from the Regulation.

A Downloadable Recording
The recording includes audio, as well as video, of the presentation slides. Once you download the recording, it's yours. Share it with your Team for as long as you want.

Written Answers to ALL Questions
You can pre-submit and/or ask questions during the live training. Every question will be answered in writing and sent to all attendees within a week or two. This is a valuable training resource!

]]> Wed, 01 Feb 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/bcc-webinars-feb-mar-2017.htm Amy Kudlacek ATR/QM Matrix Version 4.2 http://www.bankerscompliance.com/blog/latest/atr-qm-matrix-version-4.2.htm We’ve updated our ATR/QM Repayment Ability Risk & Requirements Matrix to reflect the updated points and fees threshold amounts for 2017. These are used as part of the test to determine whether you have a Qualified Mortgage.

Version 4.2 is now available on our Free Downloads page.

]]> Fri, 20 Jan 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/atr-qm-matrix-version-4.2.htm Diane Dean Mortgage Life Cycle Webinar http://www.bankerscompliance.com/blog/latest/mortgage-life-cycle-webinar.htm Understanding what ECOA, HMDA TILA, RESPA and the many other lending regulations are and how to comply with them is a big task. It's even harder to figure out when each comes into play during the loan processing cycle. Well that’s where our Mortgage Life Cycle webinar will be a BIG help. This webinar has a unique approach compared to other “regulation-by-regulation” training. We will walk you through the mortgage loan process, step by step, in chronological order, from before application to after closing.

This four-part webinar series (8 total hours of training) is guaranteed to get you on the right track.

Register TODAY!

]]> Thu, 26 Jan 2017 10:00:00 -0600 http://www.bankerscompliance.com/blog/latest/mortgage-life-cycle-webinar.htm Deb Irving