Tag Archives: Compliance

The Consumer Financial Protection Bureau will no longer be the only entity monitoring TILA-RESPA Integrated Disclosure rule compliance among lenders. The Office of the Comptroller of the Currency announced Friday that TRID compliance exams are coming.

DocMagic, a provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, recently announced that PHH Mortgage has signed a multi-year lease to use its products to further enhance TILA-RESPA Integrated Disclosure rule compliance capabilities.

With regulatory oversight continuing to weigh heavier on the mortgage industry, compliance may be the only solution to avoid fines and penalties.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. Lenders in today's market often face compliance challenges that bring the Consumer Financial Protection Bureau to their door with a huge fine. Mary Beth Doyle, founder of LoyaltyExpress examines these compliance issues and advises lenders on an effective way to avoid regulatory repercussions.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. This advisory piece features Tim Anderson, director of eServices for DocMagic, Inc., providing a final checklist to ensure mortgage lenders and servicers are fully prepared for TRID and avoid costly fines.

Compliance defects on closed mortgage loans are already a costly problem for lenders, but with the new TILA-RESPA Integrated Disclosure rules just one month away, lenders can expect to face even more risks and costs.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. This piece features Brad Schaltenbrand, director with Navigant’s Financial Services Practice, discussing a few TRID-related concerns among lenders and some viable solutions to these issues.

The Office of the Comptroller of the Currency (OCC) listed interest rate, underwriting, strategic, compliance, and cybersecurity as the top supervisory concerns in the Semiannual Risk Perspective for Spring 2015 released Tuesday. Based on data that covers risks to banks and federal savings associations through the end of 2014, the report, which focuses on issues that post threats to the safety and soundness of OCC-regulated institutions, noted an overall decline in revenues in profitability for all OCC-supervised institutions. The four main areas of data presented in the report are operating environment, bank condition, key risk issues, and regulatory actions.

As preparations continue across the industry for the impending August 1 TILA/RESPA Integrated Disclosures (TRID) deadline, International Document Services, Inc. (IDS) announced it has achieved four of its five major development milestones for TRID implementation.

The hearing, entitled "Regulatory Relief for Community Banks and Credit Unions," was a gathering of the committee's lawmakers to discuss the effect of recent regulatory burdens placed on smaller banks and credit unions in response to the financial crisis.