New Year, New Threshold Limits

January 11, 2016 11:02 am
By, Gina Ellis The asset threshold for determining applicability for Home Mortgage Disclosure Act (HMDA) reporting for 2016 remains unchanged at $44 million. Any financial institution located in a Metropolitan Statistical Area (MSA) with total assets of $44 million as of December 31, 2015 will be subject to HMDA data collection and reporting in 2016…. View Article

What You Need to Know About BankManager® AP

January 7, 2016 5:27 pm
By, Benjy Cook Accounts Payable (AP) systems within the banking world are usually a generic part of the core/host system and are a necessary evil only the accounting department will ever understand – very rarely do they have deluxe features such as imaging or vendor management. However, these AP systems do have base functionality that… View Article

2018 HMDA Summary of Changes to Data Points

December 23, 2015 1:17 pm
By: Elva Coffey-Sears In addition to the 25 new HMDA data points previously discussed, the CFPB has modified many of the existing data points. However, not all have changed including those relating to application date, loan type, action taken, property location, income and HOEPA status. The CFPB’s Summary of Reportable HMDA Data – Regulatory Reference… View Article

New 2018 HMDA Data Points

December 11, 2015 6:19 pm
By, Gina Ellis Beginning in 2018, HMDA reporters will be required to collect, record and report numerous new data points for originations, purchases and applications of covered loans. New information about applicants will include reporting age, credit score, debt to income ratio and combined loan to value ratio. Additional information about the loan process will… View Article

Banks Helping to Identify Suspects Behind Paris Attacks

December 4, 2015 3:28 pm
By, Cody Roberts Every once in a while, a regulation is actually helpful. While Regulation Z would not fall into this category, the Bank Secrecy Act and its implementing regulations do. A very recent example was shown in the wake of the recent Paris attacks. Evidently, Suspicious Activity Reports are being scrutinized to find connections… View Article

New Home Mortgage Disclosure Rules: Transactional Coverage

November 25, 2015 11:52 am
By, Elva Coffey-Sears In addition to the institutional coverage changes previously reported, the CFPB’s final rule amending Regulation C to implement amendments to the Home Mortgage Disclosure Act (HMDA) changes the transactions required to be reported on the HMDA Loan Application Register (LAR). These changes work in concert with the loan volume threshold tests to… View Article

New Home Mortgage Disclosure Rules: Determining Institutional Coverage

November 23, 2015 10:28 am
By, Gina Ellis The Consumer Financial Protection Bureau (CFPB) has issued the final rule amending Regulation C, or the Home Mortgage Disclosure Act (HMDA). The amendments change institutional coverage in two phases. Under current rules, the asset size threshold may change annually based on changes in the average Consumer Price Index for Urban Wage Earners… View Article

Winter is Coming, so is CompliancePro 3.0

November 13, 2015 10:52 am
By, David Walls Development on CompliancePro 3.0 has hit its share of delays along the way, but we can finally begin to see the end of the tunnel. For many, the changes will seem very insignificant, but to the common man, it’s a complete reprogramming (imagine jumping from Windows 95 all the way to Windows… View Article

Insights into the CFPB’s Supervisory Highlights

November 9, 2015 10:13 am
By: Mikel Dunnagan In its most recent version of Supervisory Highlights (or lowlights as some may say), the CFPB announced its exam findings for both the second and third quarters.  While the CFPB is responsible for examining financial institutions with assets greater than $10 billion, stuff generally tends to run downhill.  So, you should expect these… View Article

Community Banking in the 21st Century

October 30, 2015 9:23 am
By, Cody Roberts Recently, the Federal Reserve and the Conference of State Bank Supervisors produced a report titled “Community Banking in the 21st Century – 2015,” a combination of a survey and town-hall comments from 974 commercial banks with assets less than $10 billion in 39 states. While it covers many topics, the section on… View Article