2017 was a busy year for compliance. It looks like 2018 is lining up to be another big year as we complete implementation of HMDA, TRID revisions, and numerous other projects.
In my 42-year career I have seen the pendulum swing from one extreme to another several times. Since the mortgage crisis 10 years ago we have been plagued with a huge volume of new and revised compliance laws and regulations. With the current administration and Congress it appears that in the coming years the volume of new laws and regulations will decline. But if the promised deregulation is similar to the deregulation projects of the past, laws and regulations will not disappears, they will change. When there is change there is work for the compliance department. 2018 should be an interesting year.
We hope that 2017 has been a good year for you and for those you love and we hope that 2018 is better in every way.
Jack and the Compliance Resource Team.