Links in “Lending”

New escrow account requirements contain an exemption for certain small creditors operating in rural and underserved counties in any of the previous three years. The CFPB has just added the list for 2011 to its previously published lists for 2012 and 2013. [1/6]

2014 HMDA asset threshold, CARD Act threshold, HOEPA annual threshold adjustment, asset-threshold for HPML escrow exemption -- it's all here. [1/6]

Industry observer foresees the cost of compliance with new mortgage servicing rules will drive some servicers to exit the market, but others will grow by providing servicing for small lenders or credit unions unable to handle their own servicing. [1/3]

NCUA has issued Regulatory Alert 14-RA-01 to provide further guidance in complying with the upcoming Ability-to-Repay/Qualified Mortgage Rule. In the Guidance, NCUA points out that since the underwriting criteria required under the ATR/QM Rule is broader than the requirements under Part 701 of the NCUA Rules and Regulations and most state rules, that compliance with the ATR/QM rule should ensure compliance with Part 701.  However, compliance with Part 701 may not ensure compliance with the ATR/QM Rule. [1/3]

CFPB seeks information on key consumer “pain points” associated with mortgage closing and how those pain points might be addressed by market innovations and technology. Comments are requested from all sectors associated with loan closing. [1/3]

The next phase of the CFPB’s “Know Before You Owe” initiative will be to identify ways to improve the mortgage closing process for consumers and includes 17 questions about “what consumers find most problematic about the current closing process.” The CFPB’s questions appear to proceed from the assumption that any closing “problems” stem from the lender’s actions. [1/3]

Take a tour of US transfer risk from around the world as well as U.S. Bank claims on foreign borrowers by LFIs (Large Financial Institutions (US) or the Top 10) and all others. [1/2]

Regulatory focus on fair lending is escalating, as evidenced by 3 year-end settlements. Here are highlights from these settlements along with the 5 key industry messages that the regulators are telegraphing to lenders. [1/2]

The jump in write-offs comes as more lenders exit the market due to federal changes and is a sign that a mounting student debt crisis has begun to hurt lenders. [1/2]

Kudos to you if you've dealt with the big things, such as ability to repay and qualified mortgage rules and the new RESPA servicing requirements. But there are a myriad of small things to deal with, too, before Jan. 10th's rules go into effect. Here's a checklist. [1/2]