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Banker's Toolbox, Inc., the leader in Bank Secrecy Act anti-money laundering compliance solutions, has launched innovative business intelligence software called Relationship Manager. Relationship Manager is a revolutionary tool that can utilize an institution's investment in BSA/AML transaction monitoring to address the challenges of cross-sell and retention. It scans an institution's transactional data to detect patterns that indicate cross-sell or retention opportunities as they occur, giving financial institutions a competitive advantage. (Read more.)

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CFPB proposes changes to Reg B

The Bureau has announced a proposal to increase flexibility for mortgage lenders in collecting demographic information. The CFPB’s proposal would provide compliance flexibility for individual mortgage lenders, and would also support the broader mortgage industry’s ability to use consistent forms and compliance practices. Under the proposal, mortgage lenders would not be required to maintain different practices depending on their loan volume or other characteristics, allowing more lenders to adopt application forms that include expanded requests for information regarding a consumer’s ethnicity and race, including the revised Uniform Residential Loan Application. The proposal also contains other amendments to Regulation B and its commentary to facilitate compliance with Regulation B’s requirements for the collection and retention of information about the ethnicity, race, and sex of applicants seeking certain types of mortgage loans. Comments will be accepted for 30 days following publication in the Federal Register.


Mortgage performance improvement continues

The OCC Mortgage Metrics Report for the fourth quarter 2016 has been released. It indicates the overall performance of first-lien mortgages continues to improve, and the number of loans in delinquency continues to decline. The report shows that 94.7 percent of mortgages included in the report were current and performing at the end of the quarter, compared with 94.1 percent a year earlier; and that servicers initiated 45,495 new foreclosures in the fourth quarter 2016, a decrease of 5.1 percent from the previous quarter and a decrease of 28.2 percent from a year earlier.


OCC schedules directors workshops in Charlotte

The OCC has announced it will host two workshops at the Sheraton Charlotte Airport Hotel, Charlotte, N.C., April 25-26, for directors of national community banks and federal savings associations supervised by the OCC. The Risk Governance workshop on April 25 combines lectures, discussion, and exercises to provide practical information for directors to effectively measure and manage risks. The Credit Risk workshop on April 26 focuses on credit risk within the loan portfolio, such as identifying trends and recognizing problems.


Q4 debt service and financial obligations ratios

The Federal Reserve Board has posted the household debt service and financial obligations ratios for the fourth quarter 2016.


Santander in Written Agreement

The Federal Reserve Board has announced the execution of a written agreement with Santander Holdings USA, Inc., of Boston, Massachusetts, a bank holding company, and Santander Consumer USA, Inc., of Dallas, Texas, a non-bank subsidiary engaged in automobile financing for dealers and consumers.


March Dealer Financing SCOOS released

The FRB has released the March 2017 Senior Credit Officer Opinion Survey on Dealer Financing Terms.


FHFA schedules timing of CSP release 2

The Federal Housing Finance Agency (FHFA) has published an "Update on Implementation of the Single Security and the Common Securitization Platform." The Update includes the timeframe for Release 2 of the Common Securitization Platform (CSP), planned for the second quarter of 2019. Release 2 will allow Fannie Mae and Freddie Mac to use the CSP to issue a single, common security to be called the Uniform Mortgage-Backed Security or UMBS.


FHFA report on foreclosure prevention

The Federal Housing Finance Agency (FHFA) has released its fourth quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 189,911 foreclosure prevention actions in 2016, bringing the total number of troubled homeowners helped since the Enterprises were placed into conservatorships to more than 3.8 million. Of the total foreclosure prevention actions, 3.1 million have helped troubled homeowners stay in their homes, including more than 2 million permanent loan modifications. FHFA’s report includes data on the Enterprises’ home retention actions, delinquency data and real estate owned (REO) inventory. FHFA publishes the report data in an online, interactive Borrower Assistance Map.


Residential sales up 6 percent

HUD and the Census Bureau have jointly announced statistics on new residential sales for February 2017:

  • New home sales: Sales of new single-family houses in February 2017 were at a seasonally adjusted annual rate of 592,000. This is 6.1 percent above the revised January rate of 558,000 and is 12.8 percent above the February 2016 estimate of 525,000.
  • Sales price: The median sales price of new houses sold in February 2017 was $296,200. The average sales price was $390,400.
  • For sale inventory: The seasonally adjusted estimate of new houses for sale at the end of February was 266,000. This represents a supply of 5.4 months at the current sales rate.


Housing price index flat

U.S. house prices remained flat in January according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The HPI has reflected positive monthly increases since early 2012, except for November 2013 and January 2017, when house prices were flat on a month-over-month basis. The previously reported 0.4 percent increase in December remains unrevised. The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From January 2016 to January 2017, house prices were up 5.7 percent.


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