Skip to content

How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.


Top Story Lending Related

01/14/2005

Bureau Blog on fair lending compliance

The CFPB Blog features an article reviewing the Bureau's actions to ensure that financial institutions are complying with federal consumer financial laws, including the Equal Credit Opportunity Act (ECOA) and the Home Mortgage Disclosure Act (HMDA).

01/14/2005

Bureau proposes mortgage rule tweaks

The Consumer Financial Protection Bureau has announced proposed adjustments to its mortgage rules to ensure access to credit. The proposal [85 page PDF] includes two changes that would help certain nonprofit organizations continue to provide mortgage credit and servicing to underserved populations. The proposal also lays out limited circumstances where lenders that exceed the points and fees cap can refund the excess amount to consumers and still have the loan be considered a Qualified Mortgage. The proposal would—

  • Add an alternative definition of a small servicer that would apply to certain 501(c)(3) nonprofit organizations so that they can continue to consolidate their servicing activities while maintaining their exemption from some of the servicing rules
  • Amend the ability-to-repay exemption in § 1026.43(a)(3)(v)(D) to allow certain 501(c)(3) nonprofit groups to continue to extend interest-free, forgivable loans ("soft seconds") without regard to the 200-loan limit
  • Add new paragraph 1026.43(e)(3)(iii) to provide a limited 120-day post-consummation opportunity for lenders to refund excess points and fees in order to meet Qualified Mortgage requirements, subject to certain policy and procedures requirements

Comments will be accepted for thirty days following publication in the Federal Register.

01/14/2005

Cordray on BMO Harris auto lending policy

CFPB Director Cordray issued a statement supporting BMO Harris Bank's plans to pay auto dealers a flat percentage of the loan amount to compensate dealers for originating indirect auto loans.

01/14/2005

Fannie and Freddie stress test results

The Federal Housing Finance Agency has released Projections of the Enterprises' Financial Performance, a report providing updated information on possible ranges of future financial results of Fannie Mae and Freddie Mac under specified scenarios. The report reflects results of stress tests Fannie Mae and Freddie Mac are required to conduct under the Dodd-Frank Act.

01/14/2005

FDIC weather-related disaster relief guidance

FDIC FIL-22-2014 announces steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Arkansas affected by severe storms, tornadoes, and flooding on April 27, 2014:

  • A federal disaster for selected areas in Arkansas was declared on April 29, 2014. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at www.fema.gov.
  • The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
  • Extending repayment terms, restructuring existing loans, or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the local community and serve the long-term interests of the lending institution.
  • Banks may receive favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery.
  • The FDIC also will consider regulatory relief from certain filing and publishing requirements.

01/14/2005

First Horizon to pay $110M

The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced a settlement for $110 million with First Horizon National Corporation, related companies and specifically named individuals. The settlement resolves claims in a Federal court lawsuit alleging First Horizon violated Federal and District of Columbia securities laws in connection with private-label mortgage-backed (PLM) securities purchased by Fannie Mae and Freddie Mac during 2005-2007. Pursuant to the agreement, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac.

01/14/2005

IFR payment agreements status report

An OCC News Release has provided a status report on Independent Foreclosure Review (IFR) Payment Agreements that required large mortgage servicers to provide $3.9 billion in payments to 4.4 million eligible borrowers and $6.1 billion in other loss mitigation and foreclosure prevention assistance.

01/14/2005

Mercury Network to waive fees

BOL advertiser the Mercury Network has announced it is waiving all transaction fees for Catastrophic Disaster Area Property Inspection Reports in the tornado-impacted areas to help lenders get an assessment of collateral in those areas. With that, closings for unaffected properties can proceed so those local economies move quickly towards recovery. In addition, they have published a relief line for any industry colleagues who may have been directly affected. They can reach out to relief@alamode.com for supplies and financial help, advises Mercury Network EVP Molly Dowdy.

01/14/2005

Fannie and Freddie stress test results

The Federal Housing Finance Agency has released Projections of the Enterprises' Financial Performance, a report providing updated information on possible ranges of future financial results of Fannie Mae and Freddie Mac under specified scenarios. The report reflects results of stress tests Fannie Mae and Freddie Mac are required to conduct under the Dodd-Frank Act.

01/14/2005

FDIC weather-related disaster relief guidance

FDIC FIL-22-2014 announces steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Arkansas affected by severe storms, tornadoes, and flooding on April 27, 2014:

  • A federal disaster for selected areas in Arkansas was declared on April 29, 2014. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at www.fema.gov.
  • The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
  • Extending repayment terms, restructuring existing loans, or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the local community and serve the long-term interests of the lending institution.
  • Banks may receive favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery.
  • The FDIC also will consider regulatory relief from certain filing and publishing requirements.

Pages

Training View All

Penalties View All

Search Top Stories