On August 1, 2019, the U.S. Department of Housing and Urban Development (“HUD”) announced a reduction in the maximum loan-to-value (“LTV”) and combined maximum LTV ratios on cash-out refinance mortgages ...
This past week, the Consumer Financial Protection Bureau (“CFPB”) released five additional frequently asked questions (“FAQs”) related to TRID loans. The focus on these FAQs is providing loan estimates to ...
Effective July 1, 2019, lenders submitting recordable instruments to the Superior Court Clerk of DeKalb County, Georgia are required to include the tax identification number of the affected real property ...
In October 2018, the Bureau of Consumer Financial Protection (Bureau) and the Federal Reserve Board jointly proposed amendments to Regulation CC, which implements the Expedited Funds Availability Act (EFA Act), ...
Recently, the IRS proposed treasury regulation, REG–132240–15, providing clarification on distributions from certain retirement plans and IRAs that are delivered outside of the United States. This regulation would clarify the ...
The FDIC issued a new publication earlier this month providing a high-level overview of consumer compliance issues identified during 2018. In particular, the issues addressed in this publication relate to ...
The FDIC released its supervisory highlights for consumer compliance activities. As part of the 2018 examinations, the FDIC identified compliance issues with financial institution’s overdraft programs and Regulation E procedures: ...
NACHA has approved an amendment to the NACHA Operating Rules and Guidelines on Differentiating Unauthorized Return Reasons (“Rule”). Currently, return reason code R10 – “Customer Advises Unauthorized, Improper, Ineligible, or ...
On May 31, 2019, the CFPB issued its first set of frequently asked questions (“FAQs”) related to applicability of the TILA-RESPA Integrated Disclosures (TRID) to construction loans. The FAQs generally ...
The IRS released Revenue Procedure 2019-25 announcing the cost-of-living adjustments (COLAs) applicable to health savings accounts (HSAs) for the calendar year 2020. The changes include an increase in the contribution ...