Compliance Q&A's Articles

Mortgage Servicing Rights: Valuation

Question: We are considering whether to sell our mortgage servicing rights. This has been a long, drawn out process of complicated decision-making. At this point, we are still struggling with how to determine the valuations.

Reverse Occupancy

Question: As a result of an internal audit, we just found out about two reverse occupancies. It turns out that our investors were already aware of this happening and were about to send us repurchase requests.

Documentation for a UDAAP Exam

Question: Thank you for these weekly FAQs! My staff and I find them very informative. I am with the compliance department of a bank. We offer a full range of loan and savings products. We are preparing for a regulatory examination that will include UDAAP compliance.

Limits on Points and Fees

Question: We are a mortgage banker. Our policy is to place limits on points and fees in our residential mortgage loan transactions. But an applicant complained to the CFPB that we denied the application because of our limits on points and fees.

USA Patriot Act Disclosure Form and the Freedom Act

Question: We are a lender with a client that is very passionate about NOT signing the Patriot Act Disclosure that is included in our initial closing package.

E-Sign and Enforcing Electronic Signatures

Question: We recognize the requirements of E-Sign. One subject of discussion has been its role in contractually binding our financial institution in mortgage loan originations, especially in the area of consumer disclosures. How valid are electronic signatures?

UDAAP Violations in Consumer Debt Collection

Question: Our compliance group recently passed around the E-Book on Advertising Compliance, written by Jonathan Foxx. In Part II, there is a section on UDAAP.

Elements of a Disaster Recovery Plan

Question: Our compliance department has been tasked with developing a disaster recovery plan. Banking departments of several states are expecting us to ratify such a plan. However, we are not sure about what goes into this plan.

Types of Lead Generation

Question: We are thinking about obtaining leads from an online lead generation service. In the process of reviewing our marketing campaign, it seems pretty clear that there are different types of lead generators. What are the different types of lead generators? What are some pitfalls?

Social Media: Posting News Articles

Question: I'd like to get some clarity on the requirements for posting news articles to different social media channels. We create several articles per month and would like to publish those articles on LinkedIn, Facebook, Instagram, Twitter, and anywhere else we deem appropriate.

Pages

Subscribe to Compliance Q&A's