Know your training obligations
Front-line staff wear many hats throughout the day. You might start your day assisting members on the teller line only to find yourself at the new accounts desk after lunch. From time to time, you [...]
Posts Tagged ‘Michael Christians’
Unlocking the mystery of loan originator training
You know your mortgage loan originators (MLOs) and loan originators (LOs) need training. But do you know how much, and which type for each? We’re here to unlock the mystery. At CUNA, we provide [...]
Military Lending Act implementation: Determining covered borrower status
As previously discussed on The Works Blog both here and here, last summer the Department of Defense (“DOD”) finalized sweeping changes to the Military Lending Act (“MLA”) that take effect this coming October. As a [...]
Request access to Defense Manpower Database by February 1st
Later this year, the Department of Defense’s revisions to the Military Lending Act (“MLA”) will take effect. As we get closer to the effective date of October 3rd be sure to stay tuned to [...]
Staying on top of SCRA compliance
I’ve long advocated for the protections afforded by the Servicemembers Civil Relief Act (“SCRA”). I think we can all agree that if there was ever a group that your credit union should bend over [...]
Are you communicating enough with your appraisers? (Part 2)
On September 1st we began our discussion related to disclosure of the property appraisal fee on the Loan Estimate. Remember that after October 3rd the Integrated Disclosure Rule (“TRID”) provides that the appraisal fee is [...]
Are you communicating enough with your appraisers? (Part 1)
Effective October 3rd, property appraisals will generally be subject to a zero tolerance threshold under the Integrated Disclosure Rule (“TRID”). TRID provides that fees paid for a third-party settlement service for which the member is [...]
CFPB finalizes TRID effective date
by: Michael Christians Today the Consumer Financial Protection Bureau (“CFPB”) issued a final rule delaying the effective date of the Integrated Disclosure Rule (“TRID”) to Saturday, October 3, 2015. A copy of the CFPB’s [...]
Some breathing room… CFPB delays TRID
by: Michael Christians On June 17th the Consumer Financial Protection Bureau (“CFPB”) announced they would be issuing a proposed rule to delay the effective date of the TILA/RESPA Integrated Disclosure Rule (“TRID”). Yesterday we [...]
Unlocking the mystery of loan originator training
The separate training requirements imposed by the state-level SAFE Act (Regulation H) and the Truth in Lending Act (Regulation Z) continue to cause confusion in the industry. This article sets out to unlock the mystery [...]
Proposed amendment to QM Rule – what credit unions need to know
Recently, the Consumer Financial Protection Bureau (CFPB) issued proposed amendments to the 2013 mortgage rules under Regulation Z - click here to read the proposed rule. Of particular importance to credit unions is the proposed [...]