As the 2018 HMDA data reporting deadline of March 1, 2019, is approaching, this memorandum is to remind our clients who report...
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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
Federal Regulatory Agencies Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing
On December 3, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the...
Updated Exemption Thresholds for Consumer Credit Transactions and Higher-Priced Mortgage Loan Appraisals
In the November 23, 2018 issue of the Federal Register (83 FR 59276) (click here), the Board of Governors of the Federal Reserve...
FDIC Request for Comments and Information on Small-dollar Credit Products by FDIC-supervised Financial Institutions
This memorandum does not address residential mortgage lending topics; however, it will be of interest to our FDIC-supervised...
VA Changes to Qualified Mortgage Loans
On May 24, 2018, the “Protecting Veterans from Predatory Lending Act” (“VA Act”) was signed into law, effective as of that date,...
Welcome to Texas
Click below to view Black, Mann and Graham’s newest training video “Welcome to Texas”. The video contains things that a new lender entering the Texas market should know ( or things about which a seasoned lending doing business in Texas may have long been confused ). The topics include: Homestead , Marital Rights, Licensing and Registration, Disclosures, Document Preparation, Wet Settlement Requirements and Title Insurance. Welcome to Texas and thanks for using Black , Mann and Graham for your document preparation needs.
FHA Updated Guidance on HECM Claim Type 22 (CT-22) Assignment Requests (ML 2018-08)
This memorandum is for clients that originate FHA HECM reverse mortgages. On October 22, 2018, the FHA issued Mortgagee Letter...
CFPB Supervisory Highlights, Summer 2018
The following excerpts are taken from the CFPB’s Summer 2018 edition of its Supervisory Highlights published in the October 18,...
CFPB Publishes 2018 Glossary of English-Spanish Financial Terms
The CFPB has published an updated English-Spanish Glossary of Financial terms, click here, in cooperation with other federal...
FHA Requires Second Appraisal for Certain HECMs (ML 2018-06)
This memorandum is for clients that originate FHA HECM reverse mortgages. On September 28, 2018, the FHA issued Mortgage Letter...