Archive

URLA – THE MOST RECENT OFFICIAL APPROVAL

On November 20, 2017 the Consumer Financial Protection Bureau (CFPB) published its most recent Official Approval of the redesigned Uniform Residential Loan Application (URLA) to include an applicant language preference question. The first Official Approval of the URLA, which was issued by the CFPB on September 23, 2016: • Clarified that the relevant language in the redesigned URLA is in compliance with the regulatory provisions of Regulation B § 1002.5(b) through (d), regarding requests for […]

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FINAL AMENDMENTS TO CRA REGULATIONS

During mid-November the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (the Agencies), published  a final rule to amend their respective Community Reinvestment Act (CRA) regulations. The rule amends the definitions of “home mortgage loan” and “consumer loan” and the public file content requirements to conform to revisions made by the Consumer Financial Protection Bureau to its Regulation C, which implements the Home Mortgage Disclosure Act. […]

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ADDITIONAL ANNUAL LENDING THRESHOLDS PUBLISHED

On November 9 the Consumer Financial Protection Bureau published additional 2018 lending compliance thresholds as follows: The HPML Appraisal Exemption Threshold contained in 1026.35(c)(2)(ii) increased from $25,500 to $26,000; and The Regulation Z Scope Thresholds contained in 1026.3(b)(1) increased from $54,600 to $55,800. The same threshold is applicable to Regulation M. Information regarding other TILA thresholds that were published in July is available at https://www.jackscomplianceresource.com/annual-update-to-tila-dollar-amounts/ In a few weeks the remaining thresholds will be published. […]

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Electronic Document Delivery Poll

We are conducting a survey of financial institutions on the topic of, Electronic Document Delivery, to help to get to know our customer base better.  We are interested in finding out what systems they are using, and how satisfied they are with those systems.  Please consider taking the brief poll below. Everyone who completes the poll will receive the survey results within two weeks after the close of the survey. The survey closes on Friday, […]

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CFPB RELEASES HMDA PLATFORM FOR BETA TESTING

Finally, HMDA covered financial institutions can view another piece to the never-ending puzzle of HMDA tools from the CFPB.  The HMDA Platform was released today for beta testing.  Starting with 2017 data collected, financial institutions are required to report HMDA data to the CFPB.  The platform must be utilized by all HMDA reportable financial institutions to submit their data required by March 1, 2018. The Bureau did clarify the reason for the release was to […]

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