Compliance Action, Volume 15, Number 3

RESPA: More Bad Answers From HUD (4 Action Steps)

By Lucy Griffin

In response to questions from lenders using the new GFE format, HUD has updated its FAQ, but not necessarily with the answers lenders want to hear.

Loan Documentation: What, When, Why and How (3 Action Steps)

By Lucy Griffin

With the changes to the GFE and yet another definition of application, documenting credit applications is just as - if not more - complicated as ever.

Action Training
Documentation Models (Form and Charts)

By Lucy Griffin

We show you one approach to documenting the application process in this issue that can be modified with changes that will work well with your institution.

Compliance Notes

• Survey of Un- and Under-Banked
• Risk and Small Business Lending
• FinCEN Shares Mortgage Fraud Findings
• Proposal to Clarify Regulation E Changes

Compliance Calendar

In the Editor's Opinion
What's Wrong With RESPA

By Lucy Griffin

Somewhere along the line, HUD lost sight of the specific purpose of RESPA.

Compliance Q & A

• Construction Loans & the New GFE
• Time Share Real Estate Loans
• Future Release Fees on Settlement Statement
• Establishing Application Date for GFE