Links in “Lending”
- NCUAâs OGC Recommends Changes to MBL Rule
NCUAâs Office of General Counsel has announced that it may be issuing a proposed rule to amend the Member Business Loan regulation in the early part of this year. Under consideration are changes to collateral valuation, underwriting requirements, the experience requirement, and the elimination of the personal guarantee requirement for well-capitalized credit unions. [1/16]
- “Graph of the Year” Compares Student Debt to Median Income of College Grads
Washington Post's "Wonkblog" names Peter Thiel's simple two-line chart as graph of the year. [1/16]
- Understanding the Complicated New Definition of Points and Fees
Among the more complicated pieces of the new mortgage rules puzzle is the definition of points and fees. [1/16]
- What Is Keeping Your Community Bank from Becoming a Mortgage Broker on Steroids?
Former community banker sees a rare opportunity for the "cream of the crop" community banks that have survived thus far to tap into a market that is too often going across the street to mortgage companies, compliance burden notwithstanding. [1/16]
- NCUA Issues Regulatory Alerts on New Mortgage Servicing Rules
NCUA releases two regulatory alerts providing an overview of new mortgage servicing rules under Reg. X (RESPA) and Reg. Z (TILA). [1/15]
- FTC Expands Attack on Phony Mortgage Relief Companies
South Florida-based company faces expanded efforts and permanent ban for alleged mortgage relief scam resulting in largest FTC judgment to date against a purported mortgage assistance relief provider. [1/15]
- Bill Would Extend Mortgage Debt Tax Exemption
Tax relief for the liability on the difference between the house's value and the amount of a foreclosure or short sale expired for homeowners on 12/31/2013. A new bill seeks to extend it. [1/15]
- 23,000 HAMP Modifications in November
U.S. Treasury reports 23,000 permanent loan modifications were completed under the Home Affordable Modification Program, bringing the total since the start of the program to 1.3 million. [1/14]
- NCUA Promotes Webinar on Serving Low-Income Members
The webinar, scheduled for 1/15/2014, covers topics that might be of interest to all financial institutions, including banks (CRA elements). Focus to be on second-chance loans and checking accounts, alternatives to payday loans, and value-added partnerships with municipalities and community service organizations. [1/14]
- Secret “Operation Choke Point” Seeks to Choke Payday Lenders
Report that political operatives at DoJ, FDIC and CFPB set out to choke access of payday lender to the nation's financial system. [1/13]
