Most Popular Lending Content
Anti-Steering rules are a pain! Does my bank have to follow them?
09/06/2020
Is my bank exempt from the anti-steering requirements (i.e. giving the applicant 3 other loan options) in the LO Comp rules of 1026.36?
Victimless Violations
09/06/2020
Can a fair lending enforcement action occur when no specific victims are identified?
Exception Reporting Software Features
08/30/2020
What features should we look for in an exception reporting system?
Zealous EVP earns big bonuses for being a big bank promoter – LO Comp restriction concerns?
08/30/2020
Our Executive VP earns a substantial annual bonus. He doesn’t really do any real estate lending, but he certainly talks with many bank customers (often on the golf course) about how the bank can provide various loan solutions, including home loans. Up to this point, he has kept his NMLS ID # and registration current “to CYA”. I’m concerned his bonus may be non-compliant with Loan Originator Compensation requirements. Should I be worried?
Home Equity Application-3 Business Days Rule
08/30/2020
If a home equity loan application is not decisioned within 3 business days and preliminary disclosures are not sent out within those 3 business days, does the application need to be canceled and a new application keyed in? That is our current practice and it's a nightmare for HMDA monitoring submissions.
