The OCC today updated its Comptroller’s Handbook guidance on residential mortgages, replacing previous guidance and exam procedures issued in 1990, 1998 and 2011. The new booklet consolidates national bank and thrift guidance; provides examiner guidance on assessing residential real estate risk management; includes changes to production, servicing, collections and foreclosures; and incorporates the CFPB’s mortgage rules.
FinCEN to exempt U.S. companies from beneficial ownership reporting
FinCEN posted an interim final rule removing the requirement for U.S. companies and persons to report beneficial ownership information to the agency under the Corporate Transparency Act.