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#29661 - 08/27/02 05:18 PM Wheel of Finance? Mortgage Monopoly?
Anonymous
Unregistered

Could I interest anyone in brainstorming a new board game with me? I was reading the RESPA proposed rule--the part about a revised booklet--which caused me to look at my brand new box of Settlement Cost booklets sitting on the shelf, and think, "This feels like a chance card you draw in Monopoly--'HUD changes its booklet--pay $150'". What else would move you backward on the board? What would move you forward? Anybody want to play?

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General Discussion
#29662 - 08/27/02 05:45 PM Re: Wheel of Finance? Mortgage Monopoly?
NotALawyer Offline
Gold Star
NotALawyer
Joined: Nov 2001
Posts: 455
Chance card

"Management takes a short-sighted look at compliance and rejects your proposed BSA policy stating, 'We only deal with credit cards, ACHs and wires, not cash. BSA Doesn't apply to us.' You leave the company during the annual examination for a better position at another company. The examiner-in-charge calls you at home and asks, 'Is there anything we should know about?' Move forward 5 spaces and smill big!"

Any resemblence to real life situations is purely coincidental.


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#29663 - 08/27/02 07:07 PM Re: Wheel of Finance? Mortgage Monopoly?
Tina A Sweet Offline
Diamond Poster
Tina A Sweet
Joined: Aug 2001
Posts: 1,033
Marysville, Ca.
Good one Robert
_________________________
Tina A Sweet-Williams
AVP Special Assets
mailto:tsweet@goldcountrynb.com

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#29664 - 08/27/02 07:18 PM Re: Wheel of Finance? Mortgage Monopoly?
Bartman Offline
Diamond Poster
Bartman
Joined: Oct 2000
Posts: 1,191
Springfield
Roll the dice. If the number comes up odd, all players must shout "But we've ALWAYS done it that way". Everyone moves back three spaces.
_________________________
Opinions are Bartman's, not those of my employer. "A noble spirit embiggens the smallest man."

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#29665 - 08/27/02 07:21 PM Re: Wheel of Finance? Mortgage Monopoly?
Tina A Sweet Offline
Diamond Poster
Tina A Sweet
Joined: Aug 2001
Posts: 1,033
Marysville, Ca.
Roll the dice, oh I received "Go straight to the Board of Directors" and they say " And how much is that going to cost us now". Move forward 2 s paces.
_________________________
Tina A Sweet-Williams
AVP Special Assets
mailto:tsweet@goldcountrynb.com

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#29666 - 08/27/02 08:01 PM Re: Wheel of Finance? Mortgage Monopoly?
Angel Eyes Offline
Power Poster
Angel Eyes
Joined: May 2001
Posts: 4,599
Pay for annual privacy notices $100.

Go to compliance school pay $500.

Find Flood Violations go back 3 spaces and retrain!


This is fun and it sure beats trying to figure out if we are covered by HIPPA



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#29667 - 08/27/02 08:04 PM Re: Wheel of Finance? Mortgage Monopoly?
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
Community Chest:
You have not developed any dark purple or light blue properties. Lose one CRA rating level.

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#29668 - 08/27/02 08:53 PM Re: Wheel of Finance? Mortgage Monopoly?
Ted Dreyer Offline
Diamond Poster
Ted Dreyer
Joined: Apr 2001
Posts: 2,245
Sale of Insurance! Give disclosure(s) and pursue customer's game piece to get its acknowledgment.

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#29669 - 08/28/02 12:46 AM Re: Wheel of Finance? Mortgage Monopoly?
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
The card that HUD needs to draw: "Go to jail. Go directly to jail. Do not pass any RESPA revisions, just go to jail."

If you wish to avoid jail, you may draw a Get Out of HUD-JAIL free card, but ONLY after spending 3 months preparing compliant GFE's for a regulated financial institution.

_________________________
CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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#29670 - 08/28/02 09:19 PM Re: Wheel of Finance? Mortgage Monopoly?
Lucy Griffin Offline

Diamond Poster
Lucy Griffin
Joined: Nov 2000
Posts: 1,544
I can only add to Bonnie's post; "AND STAY THERE!!!"

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#29671 - 08/29/02 02:28 PM Re: Wheel of Finance? Mortgage Monopoly?
teresa Offline
Member
teresa
Joined: May 2002
Posts: 91
Maryland
How about . . .

Recommend and implement sound compliance policies and procedures. Pass your compliance examination with flying colors. Collect $1500 bonus from management.

Maybe that should go under Fantasy Island game?!!

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#29672 - 08/29/02 02:53 PM Re: Wheel of Finance? Mortgage Monopoly?
NotALawyer Offline
Gold Star
NotALawyer
Joined: Nov 2001
Posts: 455
Pass your compliance examination with flying colors. Collect $1500 bonus from management.

Now I know this game is not based in reality!

"Self-employeed customer wants to take out an equity line to invest in the stock market. The company president says that this is business credit because 'self-employeed individuals are in the business of making money.' Lose one turn due to lack of sleep at night."




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#29673 - 08/29/02 06:44 PM Re: Wheel of Finance? Mortgage Monopoly?
Lucy Griffin Offline

Diamond Poster
Lucy Griffin
Joined: Nov 2000
Posts: 1,544
Your check was returned because the hold wasn't released on time. Lose 5 turns and pay everyone $500 -- but only when your checks are good!

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#29674 - 08/29/02 06:49 PM Re: Wheel of Finance? Mortgage Monopoly?
Anonymous
Unregistered

Roll the dice and take a ride on the Reading Railroad.... and read and read and read!

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#29675 - 08/29/02 07:24 PM Re: Wheel of Finance? Mortgage Monopoly?
E.E.G.B Offline
Power Poster
E.E.G.B
Joined: Jul 2002
Posts: 6,726
the sandy shore
In reply to:

Your check was returned because the hold wasn't released on time. Lose 5 turns and pay everyone $500 -- but only when your checks are good!




Roll the dice; if an odd number comes up your checks are good and you pay everyone $500. If the number is even your checks bounce and you must pay the bank $20 for each player at the table.
_________________________
I disbelieved what he was saying so hard, I probably created an alternate universe where it wasn't true.

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#29676 - 08/29/02 11:11 PM Re: Wheel of Finance? Mortgage Monopoly?
DawgFan Offline
Diamond Poster
DawgFan
Joined: Jul 2002
Posts: 1,678
United States
Some Game pieces:
1. An eighteen wheeler (to haul around all those compliance books)
2. A Compaq iPaq (for the technologically advanced compliance officer. Exhibit A- Andy Z )
3. A sleeping pill (for the aforementioned lack of sleep)
4. A coffee cup (just in case the sleeping pill doesn't work)
5. Every player must provide a photo ID, which must promptly be placed under the game board (to avoid discrimination)
6. A healthy stack of CTRs should also accompany the game, just in case anyone wins more than $10,000.
7. Don't forget the stack of SARs as well, just in case anyone decides to cheat.


_________________________
Opinions expressed are solely my own.

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#29677 - 08/30/02 02:01 AM Re: Wheel of Finance? Mortgage Monopoly?
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,485
On the Net
How about a trip to the office supply or computer store first for that CIP copier/scanner/printer. (Home is where the heart is.)

Oops. Loans used the printer. Penalty - Send a thank you card to the examiner who cited your last lame violation.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#29678 - 08/30/02 07:20 PM Re: Wheel of Finance? Mortgage Monopoly?
Howard Lax Offline
Gold Star
Howard Lax
Joined: Jan 2002
Posts: 478
Bloomfield Hills, Michigan
How about:

Bought loan 34 months ago that borrower is rescinding. Discover that borrower did not receive 2 copies of Notice of Right to Cancel at closing, and closing occured the day before disbursement (the loan documents were back dated). Original lender and title agent are out of business. Lose shirt and endure rath of examiner. Go back ten spaces, before management decides to fire compliance officer to have funds to cover the loss.
_________________________
Howard A. Lax Lipson, Neilson, et. al. Bloomfield Hills, MI hlax@lipsonneilson.com

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#29679 - 08/31/02 03:15 PM Re: Wheel of Finance? Mortgage Monopoly?
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,056
Toano, VA
Redesignation of Boardwalk as a SFHA (Zone V). Pay 50% of all your cash as annual NFI premium each time you land there.
_________________________
...gone fishing.

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#29680 - 09/01/02 02:26 AM Re: Wheel of Finance? Mortgage Monopoly?
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
Your building of houses on the low-mod income Mediterranean and Baltic Avenues earns you CRA Community Development Credit. Advance 10 spaces and avoid the "Community Group" Chance card.
_________________________
CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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#29681 - 09/02/02 02:28 AM Re: Wheel of Finance? Mortgage Monopoly?
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,485
On the Net
New rules. Upon further review it was determined the homes on Mediterranean were HOEPA. You are a predatory lender. Shame on you. Go back to the SFHA, do a file search and pay consumer groups 4 months earnings.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#29682 - 09/03/02 02:29 PM Re: Wheel of Finance? Mortgage Monopoly?
CSpellman Offline
100 Club
Joined: Nov 2000
Posts: 176
Sit in meeting with community group--loose one turn.
_________________________
...but I saved a lot on my auto insurance

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#29683 - 09/03/02 04:22 PM Re: Wheel of Finance? Mortgage Monopoly?
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
In reply to:

Upon further review it was determined the homes on Mediterranean were HOEPA.




Oh no - not I sir! Construction and purchase money loans are exempt from HOEPA!

HOWEVER...., after receiving kudos for the Community Development loans during the CRA Exam a few months earlier, the loans have now been downgraded by the Safety and Soundness team. (The lead examiner rolled his eyes when you mentioned "Community Development.")

The downgraded status forces you to take a more aggressive exit strategy thereby enraging the local Community Interest groups. Since you cannot tell them the loans were "classified" during the exam, you can only sit there quietly and suffer their insults of "greedy banker", "money hungry low-life", etc., etc.

Take a ride on Reading Railroad as you contemplate how your regulator can talk out of both sides of its mouth on CRA. Then use your PDA to cruise the Internet for career change opportunities!
_________________________
CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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#29684 - 09/03/02 04:46 PM Re: Wheel of Finance? Mortgage Monopoly?
Lestie G Offline

Power Poster
Joined: May 2002
Posts: 3,606
Near the Land of Enchantment
You're forced to buy a vowel. It's E - go back to your office and read the requirements until your eyes cross. Attempt to identify any justice to the bank in the regulation. Lose a turn.
_________________________
Opinions my own.

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