Today’s business borrowers demand a lot more than just good rates. They expect to communicate with their lender via a variety of channels at a time that suits them. They are too busy running their own businesses to prepare thick files of financial information. And they want to deal with partners whom they regard as having a modern, world-class business model and technology stack. Continue reading Strategies to Improve Your Commercial Loan Origination
In response to requests from a number of our customers, we are clarifying that lenders may obtain a verification report for use with the Desktop Underwriter® (DU®) validation service directly from a “report supplier” that generates the report and sends the data electronically to DU, or from a “report distributor” that obtains the report from an authorized report supplier. Continue reading Fannie Mae Selling Guide Updates SEL-2017-03
Regulation B implements the Equal Credit Opportunity Act (ECOA) and, in part, prohibits a creditor from inquiring about the race, color, religion, national origin or sex of a credit applicant except under certain circumstances. Continue reading CFPB Issues Proposed Rule Regarding Collection of Demographic Information under Regulation B
As the mortgage regulation alphabet continues, with lenders implementing HMDA, TRID, QM and more, the industry cited regulation as having a negative impact on business production and consumer credit availability, according to the American Bankers Association’s 24th annual Real Estate Lending Survey. Continue reading How Do You Compare ? QM Lending Statistics
On Tuesday, Chris D’Angelo, the associate director of the Consumer Financial Protection Bureau’s (CFPB) division of Supervision, Enforcement and Fair Lending, said at an American Bankers Association meeting in Washington that the CFPB is bureau was set to undertake a review of a host of major rules that it has put in place, including the qualified mortgage rule.
D’Angelo stated that the CFPB is “embarking” on the process of reviewing rules that it has put in place as mandated under the Dodd-Frank Act. Continue reading CFPB to Re-Examine Regulations
Big or small, decisions aren’t as easy as they may seem.Psychologists have found decision-making is fraught with hidden influences, tricky nuances, and the ability to make us happy in the short-term but unhappy in the long-term. Continue reading 6 TED Talks Have Completely Changed How I Make Decisions
Offices are increasingly being designed with collaboration in mind, as the lines between corporate meetings, private work sessions, and coffee dates with clients blur. While furniture and layout are often discussed, experts say there is a new frontier of workplace design they are just now tapping into: color. Continue reading These Two Colors Make Office Workers More Alert and Productive
A group of Wisconsin bankers on a recent lobbying trip to Washington, D.C., returned with heightened optimism that some of the rules now governing community banks — regulations they contend are too costly — will be eased.
Community banks in Wisconsin and the U.S., defined generally as banks with assets of less than $10 billion, have complained since 2010 that reforms passed by a then-Democrat controlled Congress and aimed at preventing another financial crisis unfairly imposed an expensive compliance burden on them.
Continue reading Regulatory Relief on the Horizon for Community Banks?
Effective Date of Implementation of the Federal Housing Administration’s Loan Review System, and Change in Effective Date for Timeframe for Conducting Pre-Endorsement Mortgage Reviews for Unconditional DE Authority Continue reading FHA Provides Effective Dates for Implementation of the Loan Review System and Timeframe for Conducting Pre-Endorsement Mortgage Reviews
In the regular course of business, banks are exposed to market risks from movements in interest rates, foreign currencies and commodities. Many banks respond by utilizing over the counter derivative instruments to hedge against volatility. Under current accounting standards, banks must account for derivatives under the ASC 815 (formerly FAS 133) models. Continue reading Proposed Accounting Changes Should Make Hedging More Attractive to Community Banks
