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Are you looking for help to keep up with all the regulatory changes?  Compliance Resource, LLC is offering a free preview session of their Compliance Masters Group (CMG) this Friday, September 28th from 11-12pm EDT.  During the one hour preview session you will be shown what a typical CMG session is all about.  CMG members receive policies, procedures, director/ senior management updates, and much more.  If you are interested in attending please email Amy Faust at amy@mycomplianceresource.com.  Amy […]

Following our recent article about testing the integrated mortgage disclosure forms we received several inquiries requesting more information about the process, particularly about submitting a comment. This article responds to those requests. The Issue – The volume of changes from the Dodd-Frank Act that are currently unfolding is daunting. Over 2,400 pages of proposed regulations have been published in just the past two months alone. A huge bank can assign a team to the task of […]

HMDA data for 2011 was recently made available. The data include disclosure statements for each financial institution, aggregate data for each metropolitan statistical area (MSA), nationwide summary statistics regarding lending patterns, and Loan/Application Registers (LARs) for each financial institution (LARs are modified to protect borrower privacy). For 2011:   The number of reporting institutions of 7,632 fell nearly 4 percent from the number in 2010, continuing a downward trend since 2006, when HMDA coverage included […]

The volume of changes from the Dodd-Frank Act that are currently unfolding is daunting. Based on the numerous complaints about the GFE and the HUD-1 I have fielded over the past 30 months, the issue of greatest concern may be the new integrated mortgage loan disclosures. The proposed rule for the Loan Estimate and Closing Disclosure covers 1,099 pages. Reading the proposal, gaining an understanding of the requirements, and trying your hand at completing the […]