Latest Compliance - Bonuses Topics

There is a little bit of chaos regarding just what sort of servicing transfer notice is required when taking an application for a mortgage loan.

Question: We have been reporting foreclosures and write-offs on our borrowers.

They've warned us that they would do it, and now it is happening. The regulatory agencies will impose penalties for HMDA violations. The most recent penalty was imposed by the OCC.

Why

The regulatory agencies are becoming increasingly concerned that a lack of preparedness by commercial bank customers may jeopardize the safety of loans to those companies and thereby threaten the s