For those of you looking forward to the new era of suspicious activity reports in lieu of criminal referrals, there is still hope. It should happen in 1996. In fact, it should happen soon.
Slipped into the Christmas rush was yet more regulatory activity on CRA.
Question: As part of our routine underwriting procedure for mortgage loans, we obtain reports from an information reporting service on the status of the title that will secure the property.
The Federal Reserve has published final rules on specialty mortgages: high cost mortgages and reverse annuity mortgages.
Question: I am concerned about how our bank will perform under the new CRA regulation. We are a small bank (less than $250 million).