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Exception Tracking Spreadsheet (TicklerTrax™)
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Top Story Lending Related

08/16/2017

SBA seeks comment on regulations

The Small Business Administration has published at 82 FR 38617 in today's Federal Register a request for public comment identifying which of the Agency's regulations should be repealed, replaced or modified because they are obsolete, unnecessary, ineffective, or burdensome, in accordance with the mandate in various Executive Orders to reduce the number and costs of the regulations that federal agencies impose on the public. Comments are due by October 16, 2017.

UPDATE: On October 13, 2017, the SBA published a notice extending the comment deadline to 11/15/2017.

08/11/2017

TRID amendments published

The CFPB published its previously announced TRID rule amendments at 82 FR 37656 in today's Federal Register. The amendments will be effective October 10, 2017, with compliance required by October 1, 2018, as to loans for which applications are received on or after October 1, 2018 (except for two provisions that will apply to all loans regardless of when applied for).

The Bureau also published, at 82 FR 37794, its proposed rule relating to when a creditor may compare charges paid by or imposed on the consumer to amounts disclosed on a Closing Disclosure or corrected Closing Disclosure, instead of a Loan Estimate, to determine if an estimated closing cost was disclosed in good faith. Comments on the proposal will be accepted through October 10, 2017.

08/08/2017

Fed posts G.19 consumer credit data

The Federal Reserve System has posted G.19 Consumer Credit data for the month of June and the second quarter of 2017. Consumer credit increased at a seasonally adjusted annual rate of 4-1/2 percent during the second quarter. Both revolving and nonrevolving credit increased at similar annual rates. In June, consumer credit increased at an annual rate of 4 percent.

08/08/2017

FHFA releases Fannie and Freddie stress test results

The Federal Housing Finance Agency (FHFA) has released a report providing the results of the annual stress tests Fannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The report, Dodd-Frank Act Stress Tests – Severely Adverse Scenario, provides updated information on possible ranges of future financial results of the Enterprises under severely adverse economic conditions.

08/07/2017

Comment period extended on access improvements for LEP borrowers

The Federal Housing Finance Agency (FHFA) has reopened and extended the input period to September 1, 2017, to allow interested parties more time to consider additional information on issues facing qualified mortgage borrowers with Limited English Proficiency (LEP) throughout the mortgage life cycle process, including mortgage lending and servicing.

FHFA announced on May 25, 2017 that it was requesting input on ways to improve access to credit for qualified mortgage borrowers with limited English proficiency. The input period closed on July 31, 2017 but is being reopened and extended beginning today.

08/07/2017

FDIC releases CRA ratings

The FDIC has released a list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2017. Of the 68 institutions listed, four received an "outstanding" rating, 62 received a "satisfactory" rating, and two were rated "needs improvement."

08/04/2017

NCUA final CDFI qualification round

The NCUA is hosting its third and final round for credit unions to qualify to use the streamlined application for certification as community development financial institutions, from August 7 through September 1.

08/03/2017

HUD announces funds for fighting housing discrimination

The U.S. Department of Housing and Urban Development (HUD) has announced it is making $38 million available to fight housing discrimination through the Department’s Fair Housing Initiatives Program (FHIP). The grants offered through three FHIP funding notices will support a variety of critical fair housing activities, including fair housing testing in the rental and sales market, public education efforts, capacity building, and education and outreach activities.

08/03/2017

Shared credit review shows improvements

A joint release yesterday by the Federal Reserve Board, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency reports that risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit (SNC) Program Review released by the agencies. The high level of credit risk in the SNC portfolio stems primarily from distressed borrowers in the oil and gas (O&G) sector and other industry sector borrowers exhibiting excessive leverage. The review also found that credit risk management practices at most large agent banks continued to improve, consistent with the 2013 Interagency Guidance on Leveraged Lending.

08/02/2017

OCC CRA ratings released

The Office of the Comptroller of the Currency has released a list of 26 Community Reinvestment Act (CRA) performance evaluations received by national banks, federal savings associations, and insured federal branches of foreign banks that became public in July. Three institutions were rated outstanding, and 23 were rated satisfactory.

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