Compliance Action, Volume 12, Number 11

Fair Lending: How to Self-Assess (5 Action Steps)

by Lucy Griffin

Good fair lending self-assessment procedures include more than just looking at loan files.

Disclosing Subprimes: Proposed Models (4 Action Steps)

By Lucy Griffin

Product benefits and risks should be presented in any loan product disclosure. The agencies are asking for comments on their proposed disclosure models for subprime loan features.

Selling Subprime & Nontraditional Loans (Chart)

By Lucy Griffin

The art of being a responsible lender is knowing how to present or explain the risky features of a loan product.

Compliance Notes

• Helena Moves to Denver
• Flood Damages
• More Flood Violations
• New BSA Examination Manual
• Money Smart Makes Consumers Smarter
• Toot Your Horns
• Dodd's Plan to Stop Predators Smarter
• BSA Website Smarter
• Educating the Industry

Compliance Calendar

In the Editor's Opinion
Who's to Blame?

By Lucy Griffin

In the world of financial institutions, pointing a finger at other players makes sense.

Compliance Q & A

• Applicant Discount for Developer
• RESPA Requirements of Title Company
• Affiliated Business Arrangement Under RESPA
• Service Provider Disclosures & Lists
• Denial Related to Collateral
• Out-of-Market CDs and Risk

Loss Mitigation Strategies: Re-layering Risk

By Lucy Griffin

In response to the current mortgage crisis, the agencies have issued guidance on loss mitigation strategies to help reduce the risk to all involved.