We recently exceeded 1 billion in assets. I was asked to put together in one document a list of consumer compliance regulation requirements that may be exempted or triggered based on asset size and other triggers/exemptions.

I came up the following -
> Small Lender (12 CFR 208.25) - To qualify for an exception from Flood insurance escrow requirements for a designated loan secured by residential improved real estate or a mobile home. (208.25(e))
> Small Creditor (12 CFR 1026.35) - To qualify to originate Small Creditor QMs and Balloon-Payment QMs. (1026.43(e)(5) and (f))
> Small Creditor – Rural/Underserved Area (12 CFR 1026.35) - To qualify for exemption to escrow for an HPML. (1026.35(b)(2)(iii)-(vi))
> Insured Institution / Rural/Underserved Area - To qualify for exemption to escrow for an HPML. (1026.35(b)(2)(iii)-(vi))
> Small Servicer (12 CFR 1026) - To qualify for exemption for: Periodic statement provisions. (1026.41)
> Small Servicer (12 CFR 1024) - To qualify for exemption for: Prohibition on purchasing force-placed insurance where a servicer could continue the borrower’s existing hazard insurance coverage by advancing funds to escrow under certain circumstances (when the cost of force-placed insurance is less than the cost of advancing for hazard insurance). (1024.17(k)(5)), General servicing policies, procedures, and requirements provisions. (1024.38), Early intervention provisions. (1024.39), Continuity of contact provisions. (1024.40), Majority of loss mitigation provisions. (1024.41)
> HMDA Institutional Coverage (12 CFR 1003) - To qualify for exemption from HMDA institutional coverage. (1003.2(g))
> CRA (12 CFR 228) - Determination of the evaluation methods for FIs based on asset size – lending, investment and service tests for large institutions; lending and community development tests for intermediate small institutions; the stream-lined performance standards for small institutions; the strategic-plan option for FIs with approved strategic plans.

Is there anything that I am missing?

Thanks in advance!!!

Maybe I misread your post, but how would you be exempt from HMDA?

There are some institutions that are exempt from HMDA reporting. We are not and I did not mean for it to sound like we were.

I was asked to create a table with all the rules that have some type threshold to coverage and/or exemption for certain requirements, then indicate how we qualify for or do not qualify for the exemption. I am not able to provide the comprehensive table I created here, so I just listed the rule and the what the exemption might be if certain criteria are met.

I was just wondering if anyone saw anything rule missing from my list.

Thanks in advance!

Are you just referring to consumer compliance issues?

There is a big hurdle in FDICIA compliance at $1B also.

Regulator also expect a formalized Enterprise Risk Management function after crossing that threshold.