Mortgage

ABA Announces Three Endorsements at Compliance Conference

ABA today announced three new Endorsed Solutions at the association’s Regulatory Compliance Conference in Orlando, Fla. The new endorsements, made through ABA’s Corporation for American Banking subsidiary, include TILA-RESPA Integrated Disclosure compliance, compliance management software and website accessibility.

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Agencies Clarify Interpretation on Lender-Placed Flood Insurance

In response to a query by ABA staff, the federal banking agencies recently provided clarifications on whether a lender charging a customer for premiums and fees for force-placed flood insurance to a borrower’s loan balance constitutes a loan balance increase that would be a “triggering event” under the Flood Disaster Protection Act.

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Agencies Remind Banks of Appraisal Waiver Process

With financial institutions -- especially those in rural areas -- facing a critical shortage of qualified appraisers that is slowing down closing times, the federal banking agencies today issued a reminder of two existing approaches they said institutions can use to ease the crunch.

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ABA Posts FAQs on Successor-in-Interest Servicing Issues

To help bankers as they prepare to comply with the operationally complex “successor-in-interest” provisions of the Consumer Financial Protection Bureau’s servicing rule, ABA today released several frequently asked questions addressed by CFPB officials on a recent conference call.

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ABA: Proposed HMDA Changes Warrant Further Discussion

In a comment letter today, the American Bankers Association provided feedback on the Consumer Financial Protection Bureau’s proposed technical changes to the data lenders are required to collect and report under the final Home Mortgage Disclosure Act Rule (Regulation C).

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