Recent Posts by pdickerson

QRM and the Community Bank

  from the Compliance Alliance, September 11, 2013 After much debate, the long-awaited Qualified Residential Mortgage, or “QRM” rule, was finally proposed by six federal agencies (FRB, HUD, FDIC, FHFA, OCC and the SEC) on Aug. 28, 2013. The QRM rule sets the standard for credit risk retention requirements for securitization of asset-backed securities, more…
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September FREE Webinar Registration is Now Open!

SEPTEMBER WEBINAR TOPIC: Managing and Assessing Environmental Risk Associated with Real Property Used as Collateral SEPTEMBER 24 beginning at 2 PM - Register HERE Today! While brownfields, commercial, and industrial properties have a higher likelihood of contamination than residential or new development, all real estate, regardless of use, can pose environmental risk. For lending institutions,…
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FDIC Consolidates Resources Relating to Regulatory Capital.

The FDIC has made available several resources to help community bankers understand the capital rules finalized last week. These materials include a slide deck and a 41-minute video explaining capital definitions and requirements, risk-weighted assets and changes that were made between the proposed rule and the final rule. These resources are part of a broader…
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Joint Release: Agencies Issue Proposed Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements

Joint Release: Agencies Issue Proposed Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements. FDIC Subscriptions sent this bulletin at 07/10/2013 03:05 PM EDT Press Release Joint Release Board of Governors of the Federal Reserve System Consumer Financial Protection Bureau Federal Deposit Insurance Corporation Federal Housing Finance Agency National Credit Union Administration Office…
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CFPB releases readiness guide to help lenders with new rules | HousingWire

CFPB releases readiness guide to help lenders with new rules | HousingWire. reprint from - published July 8, 2013 The Consumer Financial Protection Bureau published the Dodd-Frank Mortgage Rules Readiness Guide to help institutions come into compliance. The guide summarizes the mortgage rules set by the CFPB along with frequently asked questions and additional…
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Title insurance protects your interest in property

June 21, 2013|Benny L. Kass | Housing Counsel | Reprinted from the Chicago Tribune [caption id="attachment_682" align="alignright" width="150"] Title insurance protects a buyer from matters that are not necessarily on record. (FingerMedium, iStockphoto)[/caption] Q: On new construction and paying cash (no lender financing), do I need to obtain title insurance on my new home? A:…
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CFPB Launches new mortgage rule implementation page

Reprinted from the CFPB Blog By CFPB Web Team on June 13, 2013 Today, we are announcing our new Regulatory Implementation page, which consolidates all of our new 2013 mortgage rules and related implementation materials. This is an effort to support rule implementation and ensure that industry is ready to comply with the new borrower protections. This…
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CFPB Says Banks are Responsible for Service Providers

  The Consumer Financial Protection Bureau (CFPB) issued a three-page memorandum (“Memo”) in April 2012, ( that put banks on notice that they have “legal responsibility” to “oversee their business relationships with service providers…”  The Memo specifically singles out service providers as: “. . . any person that provides a material service to a covered…
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