Compliance Action, Volume 23, Number 2
Compliance: Not Just a Support Function (3 Action Steps)
As compliance professionals, we play a unique and critical role in the management of our institutions. In many ways, we are the heartbeat of our organizations - the standard bearers dedicated to ensuring things are done the right way. The political winds will cause the enforcement pendulum to sway in different directions. However, no matter which way the wind blows, compliance is here to stay - and it's so much more than a support function.
HMDA and Non-HMDA Rate Spread Differences (3 Action Steps)
Who would have thought non-HMDA reporters would be impacted by the revised HMDA rule? It is an unintended complication of the HMDA rule implementation, but one that can be overcome.
Action Training
HMDA Reportable Income
The expanded commentary provides additional clarity for HMDA reporters to use in compiling accurate data. The Income data point is fairly simple and straightforward once you understand the CFPB’s general guidance.
Action Training
HMDA Reportable Income Quick Reference Tool (chart)
As with so many of the expanded HMDA data elements, there are a lot of specific rules and many nuances. Due to the many possible scenarios, we hope our quick reference guide will help you in determining the appropriate reportable income, if any.
Compliance Notes
- CFPB Mortgage Servicing Tools
- NJ’s “State Level CFPB”
- CFPB’s SCRA Fact Sheet
- Compliance Online: CFPB’s Debt Boot Camp
In the Editor's Opinion
Embracing Change
Compliance Q & A
- Editor:
- Patti Joyner Blenden
- Board of Advisors:
- John S. Byrne, Esq.
Cliff E. Cook
David Dickinson
Julia A. Gliha, MBA
Michael D. Maher
Carl G. Pry
Robert G. Rowe, III, Esq.
Andy Zavoina