Compliance Network Agenda 2-25-14

The February 25th Agenda is as follows:

I.      INTRODUCTION OF NEW COMPLIANCE NETWORK

II.       QM/ATR

a.      One month in, general comments

b.      Specific issues/Questions from group:

  • How are credit unions handling the new higher price rules with the   requirement of full appraisals on home equity loans? Are they are avoiding HPML’s or ordering full appraisals?
  • How are credit unions dealing with the new escrow requirements?
  • Are you having loan fallout?
  • Time for any additional questions of the group.

III.     NEW LEGISLATION

a.      Smoke detector affidavit in CT and credit amount

IV.    FUTURE TOPICS

a.      HMDA

b.      RESPA Section 8 – anti-kickback

V.  SETTING THE DATE OF NEXT MEETING AND TOPICS