Skip to content

Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

Click Now!


Top Story Lending Related

03/01/2021

FDIC posts 2nd and 3rd quarter CRA exam schedules

The FDIC has posted CRA examination schedules for the second and third quarters of 2021.

03/01/2021

NMLS Ombudsman meeting April 1

​The NMLS Ombudsman Meeting will be held virtually on Thursday, April 1, from 2:00 p.m. to 4:00 p.m. ET. Registration is open. The deadline to submit topics by emailing ombudsman@nmls.org is the close of business on Friday, March 5.

02/26/2021

2020 Shared National Credit Review released

The Federal Reserve Board, FDIC, and OCC have issued a joint press release has been issued by the FRB, FDIC, and OCC regarding the recently released Shared National Credit (SNC) Review. The review, which evaluates the quality of large syndicated loans, was conducted by the three agencies, and reflects examination of SNC loans originated on or before June 30, 2020. The 2020 results provide additional analysis focusing on borrowers in five industries that were affected significantly by the pandemic: entertainment and recreation, oil and gas, real estate, retail, and transportation services.

The 2020 SNC portfolio included 5,652 borrowers, totaling $5.1 trillion in commitments, up 5.0 percent from a year ago. Nearly half of the total commitments were leveraged loans. The percentage of "non-pass" loans, including special mention and classified SNC commitments, for the portfolio rose from 6.9 percent to 12.4 percent year over year. While U.S banks held nearly 45 percent of all SNC commitments, they held less than a quarter of non-pass loans. For leveraged borrowers operating in COVID-19 affected industries, non-pass loans rose from 13.5 percent to 29.2 percent year over year. Commitments to borrowers in COVID-19 affected industries represented about one-fifth of all SNC commitments.

02/26/2021

FHFA extends COVID-19 forbearance and foreclosure eviction moratoriums

The FHFA has announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until June 30, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an Enterprise through foreclosure or deed-in-lieu of foreclosure transactions. The current moratoriums were set to expire on March 31, 2021.

The FHFA also announced that borrowers with a mortgage backed by Fannie Mae or Freddie Mac may be eligible for an additional three-month extension of COVID-19 forbearance. This additional three-month extension allows borrowers to be in forbearance for up to 18 months. Eligibility for the extension is limited to borrowers who are in a COVID-19 forbearance plan as of February 28, 2021, and other limits may apply. Further, COVID-19 Payment Deferral for borrowers with an Enterprise-backed mortgage can now cover up to 18 months of missed payments. COVID-19 Payment Deferral allows borrowers to repay their missed payments at the time the home is sold, refinanced, or at mortgage maturity.

The FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit www.consumerfinance.gov/housing for up-to-date information on their relief options, protections, and key deadlines.

02/26/2021

Treasury CDFI Fund 2021 funding round opened

The fiscal year (FY) 2021 funding round for the CDFI Rapid Response Program (CDFI RRP) opened yesterday. The program will provide $1.25 billion to Community Development Financial Institutions to help their communities respond to the economic hardships created by the COVID-19 pandemic – offering a historic investment in institutions that reach communities that have traditionally been underserved by the financial sector. The CDFI Fund is committed to awarding these funds as soon as possible. As a result, the application round for this program will only be open for one month. All applications must be submitted to the CDFI Fund by March 25, 2021. Details of the program can be found on the CDFI Rapid Response Program webpage.

02/25/2021

OCC CRA evaluation schedules announced

The OCC has released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarters of 2021.

02/24/2021

CFPB reconsidering QM rules

The Bureau has released a statement [scheduled for Federal Register publication on 2/26/2021] on the mandatory compliance date of the General QM Final Rule and possible reconsideration of that rule and the Seasoned QM Final Rule.

The Bureau is considering whether to initiate a rulemaking to revisit the Seasoned QM Final Rule. If the Bureau decides to do so, it expects that it will consider in that rulemaking whether any potential final rule revoking or amending the Seasoned QM Final Rule should affect covered transactions for which an application was received during the period from March 1, 2021, until the effective date of such a final rule.

The Bureau also expects to issue shortly a proposed rule that would delay the July 1, 2021, mandatory compliance date of the General QM Final Rule. If such a proposed rule were finalized, creditors would be able to use either the current General QM loan definition or the revised General QM loan definition for applications received during the period from March 1, 2021, until the delayed mandatory compliance date. Furthermore, the Bureau anticipates that the Temporary GSE QM loan definition will remain in effect until the new mandatory compliance date, except that the Temporary GSE QM loan definition would expire with respect to a GSE if that GSE ceases to operate under conservatorship prior to the new mandatory compliance date.

The Bureau will consider at a later date whether to initiate another rulemaking to reconsider other aspects of the General QM Final Rule. Acting Director Dave Uelio discussed the two rules and the Bureau's plans in a Bureau Blog post yesterday.

The CFPB also posted an update of its small entity compliance guide for the ATR/QM rule, to include the latest amendments to the rule.

02/24/2021

FDIC Quarterly Banking Profile posted

The Fourth Quarter 2020 Quarterly Banking Profile has been posted by the FDIC. It is a quarterly publication that provides the earliest comprehensive summary of financial results for all FDIC-insured institutions.

02/24/2021

FDIC releases fair lending assistance videos

The FDIC's FIL-10-2021 has announced the release of nine technical assistance videos on fair lending. The information in the videos is intended as a high-level overview to help FDIC-supervised institutions assess and mitigate fair lending risk, and to understand how FDIC examiners evaluate fair lending compliance. The videos range in length from approximately 10 to 28 minutes and are available on the FDIC Banker Resource Center.

  • Video 1 provides an overview of the federal fair lending laws and regulations and is intended for bank directors and senior managers.
    Video 2 focuses on how a bank’s compliance management system can mitigate fair lending risk and is intended for bank management and compliance staff.
  • Video 3 discusses how FDIC examiners evaluate fair lending risk during a consumer compliance examination and is intended for bank management and compliance staff.
  • Videos 4-9 discuss specific fair lending risk factors, as provided in the interagency fair lending examination procedures: overt discrimination, underwriting, pricing, steering, redlining, and marketing. These six videos are intended for bank management and compliance staff.

02/24/2021

NMLS 2020 Annual Report released

The 13th annual report on NMLS operations, performance and development efforts has been released in conjunction with the start of the NMLS Annual Conference & Training. The report, “Creating a Path to Modernization,” highlights NMLS modernization efforts, the State Examination System, and more.

Pages

Training View All

Penalties View All

Search Top Stories