Most Popular Compliance Content
IRS Levy and the SSCRA
05/03/2004
Can a bank proceed with an IRS levy on a military individual who's protected under the Soldier's and Sailor's Civil Relief Act of 1940 and Executive Order No. 12744, 56 Fed. Reg. 2663? Can the IRS levy against these individuals while protected under this Act and Orders?
Effective Dates of Escrow Analysis
05/03/2004
When completing an escrow analysis, our company's internal audit procedure verifies that the effective date of each analysis is within 12 months. Recently, I reviewed the RESPA guidelines and find that I interpret this differently. The guideline indicates that a servicer must provide an escrow analysis within 30 days of the ending computation from the last analysis. If I understand this, would it be correct in stating that if my last analysis was effective January and ran through December, the subsequent analysis must be completed by January 30 the following year? If this is true, do my effective dates of each analysis have any bearing on this compliance guideline?
Statement of Condition Availability
05/03/2004
Is it required that the statement of condition be displayed in the lobby area or can it be available to give to the customer if they ask?
Flood Insurance
05/01/2004
Question: We are making a loan on land that has an old house on it that the borrower plans to tear down the day after closing. The house is in a high risk flood hazard zone.
Reg Z: Some Changes
05/01/2004
The Federal Reserve has published the 2004 changes to Regulation Z and the Official Staff Commentary.