Compliance Action, Volume 17, Number 10

More Than New Appraisal Rules: Higher Risk Mortgage Calculations Too (3 Action Steps)

By Lucy Griffin

Under the Dodd-Frank Act's imposed appraisal requirements for loans, mortgage loans that present higher risk must be supported by a full and proper appraisal. The challenge lies in knowing which loans those are.

Regulation B's Appraisal Rules: Changed! (4 Action Steps)

By Lucy Griffin

Changes to both TILA and ECOA now require that the creditor must provide a copy of the appraisal, no longer just at the consumer's request. But the change to the Regulation B requirement no longer applies to ALL loans secured by a dwelling.

Action Training
Before Training: Get Straight on Mortgage Loans (Chart)

By Lucy Griffin

With the introduction of mortgage pricing regulation there have been more definitions introduced and proposed. Make sure your lending staff is familiar with the current definitions and when they are applicable.

Compliance Notes

• COPPA and Third Party Vendors
• FDIC Advice for Consumers
• Storm Season
• CRA and Food?

Compliance Calendar

In the Editor's Opinion
What's Up With Finance Charges?

By Lucy Griffin

What qualifies as a finance charge used to be fairly simple but the definition of finance charge has been put on the CFPB's operating table, and now just about anything could be considered a finance charge.

Compliance Q & A

• Board Approval for Policies
• Disclosures for Account Product Changes
• Reporting Occupation on CTR