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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>Regulatory Solutions</title> <atom:link href="https://www.regulatorysol.com/feed/" rel="self" type="application/rss+xml" /> <link>https://www.regulatorysol.com/</link> <description>Mortgage quality control and lending compliance.</description> <lastBuildDate>Mon, 07 Aug 2023 17:56:09 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.0.1</generator> <image> <url>https://www.regulatorysol.com/wp-content/uploads/2017/02/site_icon.png</url> <title>Regulatory Solutions</title> <link>https://www.regulatorysol.com/</link> <width>32</width> <height>32</height></image> <item> <title>2023 Top Tiger Honoree</title> <link>https://www.regulatorysol.com/2023-top-tiger-honoree/</link> <comments>https://www.regulatorysol.com/2023-top-tiger-honoree/#respond</comments> <dc:creator><![CDATA[Regulatory Solutions]]></dc:creator> <pubDate>Mon, 07 Aug 2023 17:56:09 +0000</pubDate> <category><![CDATA[Company News]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=5699</guid> <description><![CDATA[<p>We are thrilled to announce that Regulatory Solutions has been named a Top Tiger honoree for yet another year by the esteemed Harbert College of Business at Auburn University! This prestigious award recognizes the fastest-growing companies led, owned, or founded by Auburn University alumni, who have demonstrated exceptional growth, revenue, and entrepreneurial spirit. For years, … <a href="https://www.regulatorysol.com/2023-top-tiger-honoree/" class="more-link">Continue reading<span class="screen-reader-text"> "2023 Top Tiger Honoree"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/2023-top-tiger-honoree/">2023 Top Tiger Honoree</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>We are thrilled to announce that Regulatory Solutions has been named a <a href="https://harbert.auburn.edu/news/2022-23-top-tiger-companies-recognized.html">Top Tiger honoree</a> for yet another year by the esteemed Harbert College of Business at Auburn University! This prestigious award recognizes the fastest-growing companies led, owned, or founded by Auburn University alumni, who have demonstrated exceptional growth, revenue, and entrepreneurial spirit.</p><p>For years, Top Tigers has celebrated the remarkable achievements of entrepreneurial alumni, highlighting their dedication to the principles of the Auburn Creed – hard work, knowledge, and respect. Winning this award once again is a testament to Regulatory Solutions’ unwavering commitment to excellence and innovation in their field.</p><p>To learn more about how Regulatory Solutions can assist you and your business, we invite you to get in touch with us today. Let us be your partners in success!</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/2023-top-tiger-honoree/">2023 Top Tiger Honoree</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/2023-top-tiger-honoree/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Fannie Mae Prefunding Quality Control (“QC”) Requirements:</title> <link>https://www.regulatorysol.com/fannie-mae-prefunding-quality-control-qc-requirements/</link> <comments>https://www.regulatorysol.com/fannie-mae-prefunding-quality-control-qc-requirements/#respond</comments> <dc:creator><![CDATA[Regulatory Solutions]]></dc:creator> <pubDate>Wed, 01 Mar 2023 22:53:31 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <category><![CDATA[Lending Compliance Updates]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=5062</guid> <description><![CDATA[<p>Fannie Mae has announced changes to prefunding QC requirements. In an announcement published March 1, 2023, Fannie Mae will now require lenders to select loans on a monthly basis for it prefunding quality control reviews. The selection process must be based on a lender’s assessment of the risks inherent in its origination process which include … <a href="https://www.regulatorysol.com/fannie-mae-prefunding-quality-control-qc-requirements/" class="more-link">Continue reading<span class="screen-reader-text"> "Fannie Mae Prefunding Quality Control (“QC”) Requirements:"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/fannie-mae-prefunding-quality-control-qc-requirements/">Fannie Mae Prefunding Quality Control (“QC”) Requirements:</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>Fannie Mae has announced changes to prefunding QC requirements. In an announcement published March 1, 2023, Fannie Mae will now require lenders to select loans on a monthly basis for it prefunding quality control reviews. The selection process must be based on a lender’s assessment of the risks inherent in its origination process which include items such as business source, volume and product mix. The monthly sample must include selections from each of the lender’s origination channels.</p><p>Fannie Mae now requires lenders to complete a minimum number of prefunding QC reviews each month, and this review must be conducted by parties who have no involvement in the processing and underwriting decision of the loan being reviewed. A lender’s loan selections must equal, at a minimum, the lesser of:</p><ul><li>10% of the prior month’s total number of loans originated or acquired, or</li><li>750 loans.</li></ul><p>Note: If a lender does not originate or acquire at least 10 loans in the prior month, then the lender must select at least one loan for its current prefunding QC review.</p><p>Regulatory Solutions has a robust prefunding department that can provide these monthly reviews in accordance with Fannie Mae guidelines. Please contact Betsy Reynolds at <a href="mailto:Betsy.reynolds@regulatorysol.com">Betsy.reynolds@regulatorysol.com</a> to get started on your prefunding QC reviews today.</p><p><a href="https://singlefamily.fanniemae.com/news-events/announcement-sel-2023-02-selling-guide-updates?utm_source=sfmc&utm_medium=email&utm_campaign=10965074&utm_term=5121337&utm_content=42836667&sfmc_id=1498791953">Announcement SEL-2023-02: Selling Guide Updates | Fannie Mae</a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/fannie-mae-prefunding-quality-control-qc-requirements/">Fannie Mae Prefunding Quality Control (“QC”) Requirements:</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/fannie-mae-prefunding-quality-control-qc-requirements/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>2023 Regulatory and Reporting Overview Reference Chart for HMDA</title> <link>https://www.regulatorysol.com/2023-regulatory-and-reporting-overview-reference-chart-for-hmda/</link> <comments>https://www.regulatorysol.com/2023-regulatory-and-reporting-overview-reference-chart-for-hmda/#respond</comments> <dc:creator><![CDATA[Regulatory Solutions]]></dc:creator> <pubDate>Mon, 13 Feb 2023 15:25:31 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=5002</guid> <description><![CDATA[<p>The Consumer Financial Protection Bureau (“CFPB”) has published its 2023 Regulatory and Reporting Overview Reference Chart for HMDA. This resource chart is used for filing and scrubbing HMDA data for calendar year 2023. The 2023 HMDA reference chart can be accessed at www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/hmda-reporting-requirements/. It is never too early to start scrubbing your 2023 HMDA LAR. … <a href="https://www.regulatorysol.com/2023-regulatory-and-reporting-overview-reference-chart-for-hmda/" class="more-link">Continue reading<span class="screen-reader-text"> "2023 Regulatory and Reporting Overview Reference Chart for HMDA"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/2023-regulatory-and-reporting-overview-reference-chart-for-hmda/">2023 Regulatory and Reporting Overview Reference Chart for HMDA</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>The Consumer Financial Protection Bureau (“CFPB”) has published its 2023 Regulatory and Reporting Overview Reference Chart for HMDA. This resource chart is used for filing and scrubbing HMDA data for calendar year 2023. The 2023 HMDA reference chart can be accessed at <a href="https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/hmda-reporting-requirements/">www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/hmda-reporting-requirements/</a>. It is never too early to start scrubbing your 2023 HMDA LAR. Regulatory Solutions offers independent audits/scrubs of your HMDA LAR on a monthly, quarterly or annual basis. Please contact us today to learn more about our HMDA scrub process. Contact either <a href="mailto:Betsy.reynolds@regulatorysol.com">Betsy.reynolds@regulatorysol.com</a> or <a href="Rhonda.Wannemuehler@regulatorysol.com">Rhonda.Wannemuehler@regulatorysol.com</a> to get started!</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/2023-regulatory-and-reporting-overview-reference-chart-for-hmda/">2023 Regulatory and Reporting Overview Reference Chart for HMDA</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/2023-regulatory-and-reporting-overview-reference-chart-for-hmda/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>HMDA Threshold Changes:</title> <link>https://www.regulatorysol.com/hmda-threshold-changes/</link> <comments>https://www.regulatorysol.com/hmda-threshold-changes/#respond</comments> <dc:creator><![CDATA[Regulatory Solutions]]></dc:creator> <pubDate>Wed, 14 Dec 2022 14:19:23 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=4860</guid> <description><![CDATA[<p>On September 23, 2022, the United States District Court for the District of Columbia vacated the increased loan-volume reporting threshold for closed-end mortgage loans in the 2020 HMDA Rule. As a result, the closed-end mortgage loan reporting threshold is 25 mortgage loans in each of the two preceding calendar years – the threshold established by … <a href="https://www.regulatorysol.com/hmda-threshold-changes/" class="more-link">Continue reading<span class="screen-reader-text"> "HMDA Threshold Changes:"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/hmda-threshold-changes/">HMDA Threshold Changes:</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>On September 23, 2022, the United States District Court for the District of Columbia vacated the increased loan-volume reporting threshold for closed-end mortgage loans in the 2020 HMDA Rule. As a result, the closed-end mortgage loan reporting threshold is 25 mortgage loans in each of the two preceding calendar years – the threshold established by the 2015 HMDA Rule. The amendment issued by the CFPB which reflects the recent decision can be found at:www.consumerfinance.gov/rules-policy/final-rules/hmda-reg-c-judicial-vacatur-of-coverage-threshold-for-closed-end-mortgage-loans/</p><p>If you originated 25 or more closed-end mortgage loans in the previous two years and find that you will now need to report your HMDA data, let us help you get your HMDA data ready for reporting with our proprietary HMDA Software and experienced analysts. </p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/hmda-threshold-changes/">HMDA Threshold Changes:</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/hmda-threshold-changes/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>2022 Top Tiger Honoree</title> <link>https://www.regulatorysol.com/2022-top-tiger-honoree/</link> <comments>https://www.regulatorysol.com/2022-top-tiger-honoree/#respond</comments> <dc:creator><![CDATA[Regulatory Solutions]]></dc:creator> <pubDate>Mon, 12 Sep 2022 17:31:10 +0000</pubDate> <category><![CDATA[Company News]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=4644</guid> <description><![CDATA[<p>Regulatory Solutions has been named a Top Tiger honoree by the Harbert College of Business at Auburn University. For years, Top Tigers has recognized the fastest-growing companies that are led, owned, or founded by Auburn University alumni for exceptional growth, revenue, and entrepreneurial spirit. The award is presented by the Harbert College of Business at … <a href="https://www.regulatorysol.com/2022-top-tiger-honoree/" class="more-link">Continue reading<span class="screen-reader-text"> "2022 Top Tiger Honoree"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/2022-top-tiger-honoree/">2022 Top Tiger Honoree</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>Regulatory Solutions has been named a Top Tiger honoree by the Harbert College of Business at Auburn University. </p><p>For years, Top Tigers has recognized the fastest-growing companies that are led, owned, or founded by Auburn University alumni for exceptional growth, revenue, and entrepreneurial spirit. The award is presented by the <a href="https://harbert.auburn.edu/events/top-tigers/index.html">Harbert College of Business at Auburn University</a>, partnered with Warren Averett. Companies were selected based on their compounded annual growth rates as measured over a three-year period. </p><p>Winning Top Tiger is more than celebrating the success of entrepreneurial alumni, it’s about celebrating the manner in which achievements were made. To be awarded Top Tiger is to live by and operate on a principle consistent with the <a href="https://auburn.edu/about/creed.php">Auburn Creed</a> which stresses hard work, knowledge, and respect. </p><p>Regulatory Solutions is honored to be named a Top Tiger! To learn more about how Regulatory Solutions can help you, <a href="https://regulatorysol.com/contact/">contact us</a> today!</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/2022-top-tiger-honoree/">2022 Top Tiger Honoree</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/2022-top-tiger-honoree/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Countdown to March 1</title> <link>https://www.regulatorysol.com/countdown-to-march-1/</link> <comments>https://www.regulatorysol.com/countdown-to-march-1/#respond</comments> <dc:creator><![CDATA[Betsy Reynolds]]></dc:creator> <pubDate>Thu, 14 Jul 2022 15:12:11 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=4401</guid> <description><![CDATA[<p>The countdown is on until March 1, 2023, and you know what that means. If you haven’t already, it’s time to get started scrubbing your 2022 HMDA LAR data. Let Regulatory Solutions help. Using our proprietary HMDA software, we can tailor HMDA scrubs to meet your business needs, objectives and budget. Whether you need monthly, … <a href="https://www.regulatorysol.com/countdown-to-march-1/" class="more-link">Continue reading<span class="screen-reader-text"> "Countdown to March 1"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/countdown-to-march-1/">Countdown to March 1</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[ <div class="widget shailan_CountdownWidget"> <h2 class="widgettitle">Calendar Days Left until March 1</h2> <div id="shailan-countdown--1_1" class="shailan-countdown--1 countdown" style=" margin:0px auto; "></div> <script>(function($){ $(document).ready(function($) { var event_month = 2 - 1; $('#shailan-countdown--1_1').countdown({ until: new Date(2023, event_month, 28, 0, 0, 0, 0), description: '', format: 'D' }); }); })(jQuery);</script> </div> <p>The countdown is on until March 1, 2023, and you know what that means. If you haven’t already, it’s time to get started scrubbing your 2022 HMDA LAR data. Let Regulatory Solutions help. Using our proprietary HMDA software, we can tailor HMDA scrubs to meet your business needs, objectives and budget. Whether you need monthly, quarterly or a one time HMDA scrub, contact <a href="mailto:Betsy.reynolds@regulatorysol.com">Betsy.reynolds@regulatorysol.com</a> or <a href="mailto:Rhonda.Wannemuehler@regulatorysol.com">Rhonda.Wannemuehler@regulatorysol.com</a> to get started today!</p><style> #shailan-countdown--1_1 { font-size: 2rem; dfont-weight: bold; font-weight: bold;}.shailan_CountdownWidget { text-align: center;}</style><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/countdown-to-march-1/">Countdown to March 1</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/countdown-to-march-1/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Is your Quality Control (“QC”) Vendor Meeting Deadlines?</title> <link>https://www.regulatorysol.com/is-your-quality-control-qc-vendor-meeting-deadlines/</link> <comments>https://www.regulatorysol.com/is-your-quality-control-qc-vendor-meeting-deadlines/#respond</comments> <dc:creator><![CDATA[Rhonda Wannemuehler]]></dc:creator> <pubDate>Tue, 24 Aug 2021 12:27:56 +0000</pubDate> <category><![CDATA[Quality Control Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=3569</guid> <description><![CDATA[<p>One of the questions posed in the recently published Quality Insider by Fannie Mae (https://singlefamily.fanniemae.com/media/28786/display) was “Is your QC vendor completing the file reviews in a timely manner? Are you holding the QC vendor accountable to the timeline?” This is a question you should be asking and if the answer is NO, maybe you should … <a href="https://www.regulatorysol.com/is-your-quality-control-qc-vendor-meeting-deadlines/" class="more-link">Continue reading<span class="screen-reader-text"> "Is your Quality Control (“QC”) Vendor Meeting Deadlines?"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/is-your-quality-control-qc-vendor-meeting-deadlines/">Is your Quality Control (“QC”) Vendor Meeting Deadlines?</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>One of the questions posed in the recently published <em>Quality Insider</em> by Fannie Mae (<a href="https://singlefamily.fanniemae.com/media/28786/display">https://singlefamily.fanniemae.com/media/28786/display</a>) was “Is your QC vendor completing the file reviews in a timely manner? Are you holding the QC vendor accountable to the timeline?” This is a question you should be asking and if the answer is NO, maybe you should be looking at other options.</p><p>Fannie Mae requires that mortgage loan post-closing quality control reviews be completed within 120 days from the month of the loan closing and if your post-closing quality control cycle is in arrears more than one 30-day cycle then the lender must self-report in Loan Quality Connect.</p><p>Regulatory Solutions provides timely pre-funding, post-closing and servicing quality control reviews. Contact Regulatory Solutions today to discuss how we can get you back on track with your mortgage loan quality control needs.</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/is-your-quality-control-qc-vendor-meeting-deadlines/">Is your Quality Control (“QC”) Vendor Meeting Deadlines?</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/is-your-quality-control-qc-vendor-meeting-deadlines/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>HMDA: Getting it Right! 2021</title> <link>https://www.regulatorysol.com/hmda-getting-it-right-2021/</link> <comments>https://www.regulatorysol.com/hmda-getting-it-right-2021/#respond</comments> <dc:creator><![CDATA[Rhonda Wannemuehler]]></dc:creator> <pubDate>Tue, 30 Mar 2021 18:33:27 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=3363</guid> <description><![CDATA[<p>The Federal Financial Institutions Examination Council (FFIEC) has issued the 2021 edition of A Guide to HMDA Reporting Getting it Right!, it can be found at ffiec.gov/hmda/guide.htm. This guide should be used for HMDA data collected in 2021 for submission by March 1, 2022. Do not wait until 2022 to start your 2021 HMDA data … <a href="https://www.regulatorysol.com/hmda-getting-it-right-2021/" class="more-link">Continue reading<span class="screen-reader-text"> "HMDA: Getting it Right! 2021"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/hmda-getting-it-right-2021/">HMDA: Getting it Right! 2021</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>The Federal Financial Institutions Examination Council (FFIEC) has issued the 2021 edition of <em>A Guide to HMDA Reporting Getting it Right!, </em>it can be found at <a href="https://www.ffiec.gov/hmda/guide.htm">ffiec.gov/hmda/guide.htm</a><em>. </em>This guide should be used for HMDA data collected in 2021 for submission by March 1, 2022. Do not wait until 2022 to start your 2021 HMDA data scrubs – contact Regulatory Solutions today and let us assist you in scrubbing your 2021 HMDA data utilizing our proprietary HMDA software. Regulatory Solutions will scrub your data to source documents and provide an exception report for your use with all data points that need to be corrected prior to submission. For additional information contact us <a href="mailto:rhonda.wannemuehler@regulatorysol.com">rhonda.wannemuehler@regulatorysol.com</a>.</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/hmda-getting-it-right-2021/">HMDA: Getting it Right! 2021</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/hmda-getting-it-right-2021/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Regulatory Solutions – HMDA 2020 and HMDA 2021</title> <link>https://www.regulatorysol.com/regulatory-solutions-hmda-2020-and-hmda-2021/</link> <comments>https://www.regulatorysol.com/regulatory-solutions-hmda-2020-and-hmda-2021/#respond</comments> <dc:creator><![CDATA[Rhonda Wannemuehler]]></dc:creator> <pubDate>Tue, 16 Mar 2021 15:14:34 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=3332</guid> <description><![CDATA[<p>The filing of the 2020 HMDA LAR is in the books and I think everyone is thankful to have that behind them. The past year brought on new challenges for all of us, especially the mortgage industry with the sheer volume of new purchases and refinances – all while working remotely. This increase of mortgage … <a href="https://www.regulatorysol.com/regulatory-solutions-hmda-2020-and-hmda-2021/" class="more-link">Continue reading<span class="screen-reader-text"> "Regulatory Solutions – HMDA 2020 and HMDA 2021"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/regulatory-solutions-hmda-2020-and-hmda-2021/">Regulatory Solutions – HMDA 2020 and HMDA 2021</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>The filing of the 2020 HMDA LAR is in the books and I think everyone is thankful to have that behind them. The past year brought on new challenges for all of us, especially the mortgage industry with the sheer volume of new purchases and refinances – all while working remotely. This increase of mortgage file volume of course increased the amount of HMDA data to be reported for the year. Financial Institutions, as defined under Regulation C, that meet certain loan-volume thresholds for closed-end mortgage loans and for certain open-end lines of credit are required to submit their HMDA data annually and are required to submit that data correctly.</p><p>Last year, Regulatory Solutions reviewed over 21,000 HMDA files for financial institutions to ensure the data reported on their HMDA LAR was supported in their file and was recorded correctly. That is over 2.2 million actual data points reviewed and the results required over 50,000 data points to be corrected prior to submission. An analysis of the corrections needed in 2020 yielded the following top ten findings:</p><ul><li style="list-style-type: none;"><ul><li>Rate Spread</li><li>Loan Amount (notably on non-originated files)</li><li>Data points for certain loans subject to Regulation Z (i.e., origination fees, lender credits)</li><li>Debt-to-income ratio</li><li>Type of purchaser</li><li>Visual Observation of applicants</li><li>Income</li><li>Submission of application</li><li>Action Taken Date (notably on non-originated files)</li><li>Automatic Underwriting System</li></ul></li></ul><p>Why is it important to scrub your HMDA data and make corrections prior to submission? The data on the HMDA LAR is used to help determine if the financial institution is serving its community housing need; to assist public officials in distributing public investment to attract private investment; and to assist in identifying any potential discriminatory lender patterns in order to enforce antidiscrimination statues and for this to be relevant data it must be correct. The Consumer Financial Protection Bureau, as well as the other regulatory agencies, will conduct transaction testing prior to starting a HMDA review to ensure the data is correct. If 10 percent or more of the HMDA LAR sample entries contain errors for a reporter with fewer than 100,000 entries the financial institution may be required to correct and resubmit the HMDA data; for reporters with greater than 100,000 entries correction and resubmission may be required with four percent or more of the sample entries containing errors.</p><p>To avoid having to resubmit, make sure you have the HMDA LAR correct at time of submission and the best time to start that HMDA scrub is now for the 2021 HMDA data. Regulatory Solutions can assist you with this by scrubbing your data on a monthly or quarterly basis and providing you with an exception report detailing each data point needing correction. Contact us today at 205-736-7717 to discuss how we can help you Get it Right.</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/regulatory-solutions-hmda-2020-and-hmda-2021/">Regulatory Solutions – HMDA 2020 and HMDA 2021</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/regulatory-solutions-hmda-2020-and-hmda-2021/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>HMDA 2021</title> <link>https://www.regulatorysol.com/hmda-2021/</link> <comments>https://www.regulatorysol.com/hmda-2021/#respond</comments> <dc:creator><![CDATA[Rhonda Wannemuehler]]></dc:creator> <pubDate>Thu, 18 Feb 2021 20:56:52 +0000</pubDate> <category><![CDATA[HMDA Alerts]]></category> <guid isPermaLink="false">https://regulatorysol.com/?p=3263</guid> <description><![CDATA[<p>Now that you have filed your 2020 HMDA LAR, it is time to get started scrubbing your 2021 HMDA Data. Let Regulatory Solutions help by scrubbing your 2021 HMDA LAR to source data using our proprietary HMDA Software. The data from a financial institution’s HMDA LAR is used to help determine if lenders are servicing … <a href="https://www.regulatorysol.com/hmda-2021/" class="more-link">Continue reading<span class="screen-reader-text"> "HMDA 2021"</span></a></p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/hmda-2021/">HMDA 2021</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></description> <content:encoded><![CDATA[<p>Now that you have filed your 2020 HMDA LAR, it is time to get started scrubbing your 2021 HMDA Data. Let Regulatory Solutions help by scrubbing your 2021 HMDA LAR to source data using our proprietary HMDA Software. The data from a financial institution’s HMDA LAR is used to help determine if lenders are servicing the housing needs of its communities and provides public officials information to develop and allocate housing and community development investments – so it is important that you Get It Right! Contact us today to begin your 2021 HMDA LAR Data Scrub.</p><p>The post <a rel="nofollow" href="https://www.regulatorysol.com/hmda-2021/">HMDA 2021</a> appeared first on <a rel="nofollow" href="https://www.regulatorysol.com">Regulatory Solutions</a>.</p>]]></content:encoded> <wfw:commentRss>https://www.regulatorysol.com/hmda-2021/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel></rss> If you would like to create a banner that links to this page (i.e. this validation result), do the following:
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