Emerging technology will enable banks to test complicated transactions and locate problems in areas that are time-consuming to monitor manually.
Browsing: Compliance and Risk
In a comment letter to the CFPB yesterday, the American Bankers Association offered support for recent proposals that would make changes to the Qualified Mortgage rule and ultimately allow the temporary “GSE patch”—which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae and Freddie Mac—to expire once the changes take effect.
ABA, the Financial Services Forum and the Securities Industry and Financial Markets Association wrote to the Federal Reserve today offering feedback on recent revisions to the Fed’s Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports
When loan officers use social media to educate, clear up confusion and offer guidance, they can be a source for good in difficult times while also building trust and closing more deals.
COVID-19 forbearance programs—and the rules, regulations and requirements that govern them—present a host of new and unique compliance challenges for mortgage servicers.
The Department of Housing and Urban Development today finalized its revised standard for bringing “disparate impact” claims under the Fair Housing Act.
Can a Bank Lose its Small Servicer Exemption if it Originates Mortgage Loans That It Sells But Still Services?
…and other answers to your compliance questions in the September/October 2020 ABA Regulatory Policy and Compliance Inbox.
While welcoming the OCC’s efforts to clarify factors that identify the “true lender” of a loan made through bank partnerships with nonbank fintech firms, ABA today expressed concern that the OCC’s proposed rule is overly broad.
When can entire organizations be held liable for the actions of a single employee? Aligning your compliance program with federal guidelines will help protect your customers, shareholders and employees and will strengthen your overall compliance program for years to come.
This summer, financial services organizations were split on when they expected the effects of COVID-19 on their organizations to meaningfully lessen.