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It’s Just Compliance Training – Who Cares?

By Tammy Butler  “It’s Just Compliance Training, who cares? We just have to show our examiners that we checked off a box and that people were trained to satisfy regulatory requirements.” Without retaining the source, I write down interesting statements like the one above when I am shocked or perplexed …

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Complying with the Diversity and Inclusion Standards

Complying with the Diversity & Inclusion Standards of Section 342 of Dodd-Frank Through Sponsorship Programs: Key Considerations for Development and Implementation By Brian Pedrow, Dee Spagnuolo and Erin Clarke In recent months, there has been significant discussion about the future of the Dodd-Frank Wall Street Reform and Consumer Protection Act …

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Right to Financial Privacy Act

The Right to Financial Privacy Act (RTFPA) was enacted in 1978. It is overseen for compliance by the federal regulatory agency which has statutory authority for the subject financial institution (a financial service provider of various types). The RTFPA generally covers federal Government authority requests for financial records of a …

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Mortgage Acts and Practices Advertising Rule

Regulation N – Mortgage Acts and Practices – Advertising was issued by the Consumer Financial Protection Bureau (CFPB) to implement requirements of the Credit Card Accountability and Responsibility and Disclosure Act of 2009 (CARD Act) and Dodd-Frank Wall Street Reform and Consumer Financial Protection Act of 2010 (Dodd-Frank Act). The …

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Building and Maintaining an Effective Compliance Management System

By Pam Perdue For financial institutions under the jurisdiction of the CFPB or a prudential banking regulator, recent updates to a 40-year-old examination rating system yield new clues for how to manage compliance more effectively. This new rating system brings both challenges and opportunities to mortgage lending organizations. The Federal …

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Checking in on Your HMDA Implementation Plan for Reverse Mortgages

By Cassandra Wayman For institutions that focus mainly on forward mortgages, it’s time to make sure that your reverse mortgage HMDA implementation plans are as developed and underway as your forward mortgage HMDA implementation plans. While the reporting requirements for reverse mortgages are fairly similar to forward mortgages—and actually require …

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“Reverse” Engineering Your Mortgage Company

By Jim Milano With total loan production expected to continue to trend downward, “forward” mortgage companies may wish to look to other mortgage products to make up lost or declining loan production. One such product is a reverse mortgage. Reverse mortgages are not new and have been around as a …

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Deep in the Heart of Compliance – MCPAOA Workshop

Monday, July 31, 2017 – San Antonio, Texas — On July 31, leaders and members of Mortgage Compliance Professionals Association of America — the premier group of professionals working across all aspects of mortgage compliance — gathered deep in the heart of Texas to share their combined centuries of regulatory …

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Home Mortgage Disclosure Act

The Home Mortgage Disclosure Act was enacted in 1975, and codified as the Federal Reserve’s Regulation C – Home Mortgage Disclosure Act (HMDA). In July 2011, rule-writing authority for Regulation C was transferred to the Consumer Financial Protection Bureau (CFPB). The HMDA requirements are intended to provide the public with …

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