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The most recent version of the uniform Residential Loan Application (URLA) has been published.  According to the current schedule, acceptance of the form by FNMA and FHLMC will begin September 1, 2020, and use of the new form will be mandatory on November 1, 2020.  The current version of the URLA will no longer be accepted on or after November 1, 2020. The 2019 effort by FNMA and FHLMC to implement a new URLA was

With the authority for the National Flood Insurance Program (NFIP) due to expire at midnight on December 20, 2019 Congress engaged in the usual last minute extension. This time H.R. 1865, the Further Consolidated Appropriations Act of 2020, has extended the NFIP authority through September 30, 2020.

On Wednesday, Dec. 18, 2019, the Consumer Financial Protection Bureau (CFPB) published two guides on disclosing construction-only and construction-permanent loans with examples based on common questions received by the Bureau. The Combined Guide  provides guidance for disclosing the phases together and the Separate Guide  provides guidance for disclosing the phases separately. Alternate Headline: CFPB Publishes Inadequate TRID Construction Loan Guidance More Than Four Years After the Effective Date Have you ever heard the old saying , “a day late

On December 12, 2019 the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) announced a proposal to modernize the regulations under the Community Reinvestment Act (CRA) that have not been substantively updated for nearly 25 years. The proposed rules are intended to increase bank activity in low- and moderate-income communities where there is significant need for credit, more responsible lending, greater access to banking services, and improvements to

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), and the Office of the Comptroller of the Currency in consultation with the Conference of State Bank Supervisors (the Agencies) have released a joint statement titled Providing Financial Services to Customers Engaged in Hemp-Related Businesses.  The Agencies note the following: Hemp may be grown in compliance with one of the following: 1) Valid USDA-issued license;