Aren’t enforcement actions just a big bank problem?
We are trying to update a residential loan policy and our review committee would like to know what would happen if we failed to comply with Fannie Mae QC requirements for prefunding and post-close mortgage loans? I can find info on post-close penalties and requirements, but nothing for not completing prefunding QC. Can you point me to any penalties, or requirements to self-report and/or buy-back loans if we don't do prefund QC?
We don't make owner occupied mortgages, but do make business purpose loans for rental properties. Do we need to continue using the Equal Housing Lender logo in advertising?
Have there been any changes to RESPA since 2019?
Will Loan Production Offices help in fair lending if we decide to close branches?