Posts Tagged ‘regulatory compliance’
PClender.com Inc. has announced the availability of its Compliance Requirements Summary matrix to assist the lending community with a comprehensive plan for managing current and future regulatory changes with confidence. The free document is available for download andRead more
By investing in communities the real estate finance industry has played a critical role in the American economy. The turmoil of the last couple of years in the industry has, however, threatened this critical responsibility.Read more
Applied Business Software (ABS), the developer of The Mortgage Office loan origination and servicing software, has announced a software update that will aid loan originators with Real Estate Settlement Procedures Act (RESPA) regulations. The Mortgage Office software update now calculates and prints federally compliant documents. Effective Jan. 1, 2010, RESPA will enforce the largest sweeping change to the process of loan originations since 1974.Read more
Effective Oct. 1, 2009, Regulation C, the implementing regulation of the Home Mortgage Disclosure Act (HMDA), imposes new data collection requirements, comparison rates and thresholds for reportable rate spreads.1 Transition rules were developed to provide lenders with guidance for reporting rate spread data for changes effective Oct. 1, 2009. To help data users identify loans closed in 2009 and reported using the new rule, the Board will add a notation to each such loan in the publicly available data reported for 2009.Read more
The change that we in the mortgage and housing industries have experienced within the past year is amazing. As a result of last fall’s elections, we have gone from a relatively conservative government to a significantly more liberal one. The economy has tanked in a way that most of us have never witnessed. Now with the Home Valuation Code of Conduct (HVCC) and other regulatory mandates, some of us have been less than positive about our profession and our jobs.Read more
AllRegs, an information provider for the mortgage lending industry, has announced that AllRegs’ 20-Hour Mortgage Loan Originator SAFE Comprehensive course (#1013) has been approved by the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires that pre-licensing and continuing education courses for state-licensed mortgage loan originators be approved by the NMLS.Read more
