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Compliance

HMDA-LAR: Systemic Errors

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Question: I have recently become aware that a Home Mortgage Disclosure Act Loan Application Register (HMDA-LAR) we previously filed for 2013 contained systemic errors. Am I required to correct and resubmit the HMDA-LAR?Click to continue

GSE Reform and CFPB Transparency Take Center Stage on Capitol Hill

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Author Joshua Rosner appeared in Washington earlier today to talk about government-sponsored enterprise (GSE) reform. That age-old topic that gets brought up time and time again but never really has any headway made about it. While appearing before a group of Investors Unite members, Rosner made it clear that GSE reform could occur, with or without government assistance.

“There are consequences for lack of reform, or improper reform – the wrong kind of change may make things worse,” Rosner said. “Addressing GSE capital stack issues and reform go hand in hand.”Click to continue

CFPB to Closely Examine Mobile Financial Services

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The Consumer Financial Protection Bureau (CFPB) has announced that it is launching an inquiry into the opportunities and challenges associated with the use of mobile financial services. As part of the inquiry, the Bureau is exploring how mobile technologies are impacting unbanked and underserved consumers with limited access to traditional banking systems.Click to continue

CoreLogic's LoanSafe Risk Manager Now Available Through Mortgage Builder Software

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CoreLogic has announced the availability of its LoanSafe Risk Manager suite of risk mitigation solutions directly to mortgage professionals through Mortgage Builder Software, the leader in end-to-end residential lending software and interface integration for mortgage bankers, banking institutions and credit uClick to continue

HUD Settles Another Fair Housing Act Violation Case

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The U.S. Department of Housing & Urban Development (HUD) has announced that it has entered into a Voluntary Compliance Agreement with the Englewood Housing Authority (EHA) in Englewood, Colo., settling allegations that EHA violated the Fair Housing Act when it implemented a point system at Orchard Place Apartments that effectively denied housing to applicants with disabilities unless they were elderly.Click to continue

FSR Seeking Greater Transparency From the CFPB

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The Financial Services Roundtable (FSR) has sent a letter to Capitol Hill asking for changes to the Consumer Financial Protection Bureau (CFPB) governance structure while the House Financial Services Committee held a hearing regarding “Legislative Proposals to Improve Transparency and Accountability at the CFPB."Click to continue

New Global DMS and Collateral Analytics Partnership Focuses on Enhanced Valuations

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Global DMS and Collateral Analytics have announced a strategic alliance that integrates various components of their software valuation solutions. From within Global DMS’ single-source eTrac Enterprise platform, which compliantly handles the entire appraisal management process, users can now access Collateral Analytics’ products and services that include its automated valuation model (AVM) services, data analytics products and risk management solutions. Click to continue

Why Your Business Needs Quality Online Reviews

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The results of the Local Consumer Review Survey (2013) are in, and as we predicted, the trend is continuing. Online reviews are here to stay and are gaining power. Just how important are online reviews to consumers? Survey says: EXTREMELY!Click to continue

A Few Quick Tips From AllRegs on Vendor Management

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Vendors pose a risk for banks and non-banks alike … and the Consumer Financial Protection Bureau (CFPB) is monitoring those risks. “Consumers are at a real disadvantage because they do not get to choose the service providers they deal with—the financial institution does,” said CFPB Director Richard Cordray in a release from the CFPB. “Consumers must not be hurt by unfair, deceptive or abusive practices of service providers. Banks and non-banks must manage these relationships carefully and can be held accountable if they break the law.”Click to continue