Links in “Credit Unions”
- Mortgage Rule Clarification: Who Is a Loan Originator?
Among the revisions to mortgage rules is a change that seeks to clarify qualifications and compensation guidelines to be considered a loan originator so that tellers and admins don't get caught up in that definition. [6/26]
- 4 Weapons Against DDoS Attacks
Guarding against hactivists requires a broad set of defensive tools combining on-premise tech and cloud-based scrubbing. [6/26]
- Ready, Go, Set: CFPB Issues Proposals to Revise Final Mortgage Rules
Issues 171-page proposal intended to ease implementation of the final mortgage rules, but is yet another proposal to a series of final rules that already have been through the proposal process and already have an effective compliance date. [6/26]
- Renegotiated Settlement Leaving Many Borrowers Frustrated and Angry
4.2 million mortgage borrowers who experienced foreclosures in 2009-2010 may receive significantly smaller compensation payments under a renegotiated settlement between federal banking regulators and large mortgage servicers; the settlement, which ended the individual borrower case reviews, is for many a far cry from the promises of the original plan. [6/25]
- Best Practices for a Successful Mortgage Hedging Strategy
White paper: With the uncertainty in the mortgage market, CUs need a successful secondary market strategy that embraces change and incorporates flexibility to handle price volatility and servicing released premiums among other issues; experts share their recommendations. [6/25]
- SCRA: Maximum Interest Rate That May Be Charged on Debts Incurred Prior to Military Service
Q&A on some of the most common questions asked about Servicemembers Civil Relief Act. [6/25]
- Compliance Question: Is Written Notice of Nonpayment Required for NSF Payment?
An auditor's questioning of a bank's handling of Reg. CC and its relation to Subpart C 229.33(d) results in a closer look at the definition of a depositary bank. [6/25]
- Reversal: No Minimum Activity Fee for Credit Unions
Freddie Mac announces it will not charge credit union mortgage sellers and servicers a fee if they donât meet minimum activity levels provided they handle at least one Freddie Mac loan over a 3-year period; fee was scheduled to go into effect 1/1/14. [6/24]
- Field of Membership Expansion for NY State-Chartered CUs
A bill on governorâs desk will allow NY state-chartered CUs to add select employees groups, associations, and communities to their fields of membership, regardless of their charter designation; currently, state-chartered CUs in NY must choose one type of charter based on SEGs, associations or communities. [6/24]
- NCUA Region V Uncovering Loan Servicing Issues
Tempe region finds problems at CUs with interest accrual calculations, and how late fees are applied. [6/24]
