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URLA DELAYED, CHANGES PENDING

Posted by jholzknecht on June 19, 2019

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Category: Fannie Mae, URLA
Tags: , ,
At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac are communicating that the optional use period for the redesigned Uniform Residential Loan Application (URLA) form and corresponding datasets will not begin on July 1, 2019 as previously scheduled. The effective date of the form will be revised and an updated version will be provided at a later date. The revised Uniform Residential Loan Application was initially scheduled to be

ABA RCC – PUTTING THE COMPLIANCE PIECES TOGETHER

Posted by rcooper on June 18, 2019

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Category: ABA RCC
The American Bankers Association Regulatory Compliance Conference (ABA RCC) came to a close in New Orleans last week and this week nearly 2,000 attendees are returning to their offices to put the pieces together – taking what they learned and determining how it will apply and affect their institutions.  We, at Compliance Resource, are doing the same – reviewing current and emerging issues as well as what’s on the horizon for bank compliance – putting
On June 6 2019, the Consumer Financial Protection Bureau (CFPB) issued a final rule to delay the August 19, 2019 compliance date for the mandatory underwriting provisions of the 2017 Payday Lending Rule to November 19, 2020. The payday lender rules were initially proposed in June 2016 with a final rule issued in October 2017 and published in the Federal Register on November 17, 2017. The rule was effective on January 16, 2018 with a
July 1, 2019 is the effective date for two major compliance events. This is a reminder that some of you have a lot of work to complete in the next 20 business days. Mandatory Acceptance of Private Flood Insurance – Starting on Monday July 1, 2019 all financial institutions must be in compliance with the new Mandatory Purchase Requirements for Private Flood Insurance. By that date your policy and procedures must be updated and your
The American Bankers Association is in full swing and, as is usually the case, not short on topics or sessions to attend. This year’s conference offers approximately 60 topics over the course of four days. And with the conference already at mid-point, two days of sessions complete and only two days remaining, hot topics for 2019 have clearly emerged. A few major themes continue to pop up throughout various sessions, including: 1) innovation and technology