Vendor Guru Q&A - Compliance

Collecting Updated Tax Returns

Latest Compliance - Reg. C Topics

Unsecured Loan

10/30/2016

Our bank extended an unsecured loan to a borrower to purchase a home. The unsecured loan was temporary until the mortgage file was ready to close. I'm thinking that the permanent mortgage file should be reported as a home purchase even though we are treating like a refinance. I'm following the same philosophy as the construction to permanent loan files. Is this correct thinking?

Managing HMDA Changes

05/01/2016

When do we start collecting the new fields required in the HMDA update and when will we be required to start reporting those new fields?

How to Report Loan on LAR

08/31/2015

I have read conflicting discussions about how to report a loan on the LAR. We have a loan secured by the primary residence, proceeds used to purchase a piece of rental property. Which property should we report?

Unsecured to Replace Existing Damaged Pool-HMDA?

08/18/2014

Is an unsecured loan for an above ground swimming pool, to replace an existing pool damaged by weather considered HMDA? I know it would be if a pool had not already been in it's place, but being as there was once one existing there, I am little hazy on it.

Originate Loan & Sell It- HMDA LAR Reportable?

06/23/2014

If we originate a reportable loan and subsequently sell it, servicing released, is it reportable on our HMDA LAR?

Regulation CC Funds Availability Calendar

12/09/2011

By Andy Zavoina, BOL Guru
Bio and Contact Info

Covering Required Training Subjects

01/10/2005

by John Burnett
Guru BIOS

There are five areas where law or regulation mandates training for bank employees:

Stop Payment On ACH Item End After 6 months?

05/20/2018

Does a stop payment on an ACH item end after 6 months?

Reg DD Disclosures for Negotiated Rate? (APY)

05/20/2018

Are Reg DD disclosures, especially the APY required when, for example, a customer negotiates a bumped up rate for 3 months?

New Money Market Account After Changed to DDA?

05/20/2018

If I customer has exceeded Reg D limits on a Money Market account 3 times within the past 12 months, and the account has been changed to a regular DDA, can they open a new Money Market DDA with a different account number?

Can we offer a prize to everyone, for charity?

05/20/2018

We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.

Advertising drawings

05/20/2018

Can we advertise a drawing on social media only?

Latest Compliance - Reg. C Topics

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