Topic: Mortgage Loans
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B082 Understanding Finance Charges for Closed-End Credit
This ii Release applies to all credit unions, state and federal. The main text of the release is an article was written by Leslie A. Frogge, Former Examiner, Federal Reserve […]
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What are compliance issues with 365/360 interest computations?
Q&A: Here’s a question that a Wisconsin credit union recently asked The League’s Legal Affairs team, along with our answer. Do you have a compliance question? Contact The League’s Compliance […]
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CFPB posts video overviews of the new mortgage rules
Title XIV of the Dodd-Frank Act required the CFPB to issue a series of rules related to mortgage loans. This video playlist contains overviews of the new rules: Overview of […]
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NCUA finalizes rule on capitalization of interest
NEWS: Meeting today, the NCUA Board adopted a final rule to let federally insured credit unions (FICUs) capitalize interest – in other words, to make additional advances to finance unpaid interest – […]
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New Juneteenth federal holiday seems to have immediate compliance implications
NEWS: Yesterday, President Biden signed legislation making June 19 – known as Juneteenth – a federal holiday. It marks the date in 1865 when hundreds of thousands of enslaved men […]
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CFPB: Lenders can’t discriminate based on sexual orientation, gender identity
NEWS: The CFPB issued an interpretive rule yesterday, clarifying that federal laws block discrimination in lending based on sexual orientation and gender identity. This includes “discrimination based on actual or perceived non-conformity […]
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New WCUL loan modification form helps lower rates without redisclosure
NEWS: The League is offering a new form for sale, the Loan Modification Agreement – Interest Rate and Payment Reduction, WCUL #83003 (Rev. 5/20). It allows the credit union and borrowers to […]
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New loan modification agreement accommodates extensions, deferrals, or re-amortization of WCUL notes
NEWS: The League now offers a new Wisconsin Simple Interest Loan Modification Agreement (#83002) to replace its Simple Interest Deferral Agreement. The new form offers three different repayment structures, to meet […]
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B017 Reg. C – Home Mortgage Disclosure Act
This release describes the requirements of the Home Mortgage Disclosure Act (HMDA) and Federal Reserve Board Regulation C.
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Appraisal Institute: Guide Note 13, Performing Evaluations of Real Property Collateral for Lenders (March 19, 2013)
Basis for Proper Practice What is an Evaluation? When are Evaluations Used? Who Can Prepare Evaluations? What are the Development Requirements for Evaluations? What are the Reporting Requirements for Evaluations? […]