Compliance Blog

Earlier, I discussed how the Federal Reserve recently released five regulations related to mortgage lending.  I plan to write a bunch on these issues, but today I thought I'd share with you a solid resource.  The Federal Reserve periodically puts out a free audio conference that hits on timely topics.  Last Thursday, they released their most recent one, and boy, oh boy, is it timely.  Here are the topics they covered in the hour-long presentation:

• HMDA –Hearings
• Mortgage Rulemakings –Regulation Z (Truth in Lending)
• • 1. Phase 1 Proposed Rule to Improve Disclosures for Mortgages and HELOCs (August 2009)
  • 2. Final Rule on Originator Compensation
  • 3. Phase 2 Proposed Rule --Reverse Mortgages and Rescission
  • 4. Final Rule on Notice of Loan Transfer
  • 5. Interim Rule for MDIA-required disclosures of highest rate and payment
  • 6. Proposed Rule Implementing Higher Threshold for Escrows on Jumbo Loans
• Dodd-Frank Wall Street Reform & Consumer Protection Act –Mortgage Provisions (Title XIV)
• EFTA –Legislation and Rulemakings

I was on travel late last week, so I have not had a chance to listen in yet, but I will.  Here's a link to the audio conference.  And here's a link to the PowerPoint presentation that they used.  From the audio file, it looks like the presentation lasts just over an hour.  I think listening to it would be an hour well spent.

***

SAFE Act: NAFCU members: A NAFCU member was gracious enough to donate their SAFE Act policy to the NAFCU policy exchange library.  As always, you are ultimately responsible for the creation of your own policy.  But seeing someone else's can give you some good ideas.

Money, money, and more money.  Regulators have released a free training video on how to spot counterfeits of the new $100 bill. Scroll down to the "educational videos" section. It is hosted by...David.  That's right - just David.

Examinations.  Here's a good blog post on what to do when you think an examiner has been overreaching.   (Governance and Strategic Planning blog.)