Compliance

Regulation is hardly new to this industry.  However, regulatory compliance is one of today’s biggest challenges.  What’s different today is the zero-tolerance way that regulations are being interpreted and enforced, with once considered clerical and minor errors now becoming incurable errors.

Are you aware of the following January 2014 requirements?

• Ability-To-Repay (ATR) and Qualified Mortgage (QM);
• High Cost Mortgage Amendments and new Home-ownership Counseling Requirements;
• Escrow Requirements for Higher-Priced Mortgage Loans’
• Enhanced Appraisal Requirements for Higher-Priced Mortgage Loans;
• Additional Disclosure and Delivery Requirements for Appraisals;
• Loan Originator Compensation Requirements;
• Mortgage Servicing Rules.