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    Fed officials were divided on the timing of an increase in the federal funds rate, according to minutes from the Federal Open Market Committee’s July 26-27 meeting. The committee noted “moderate” economic expansion and strong job gains in July, but based their decision to keep rates as is on the need to further monitor job ...

    0 0

    ABA last week issued a members-only staff summary of the FDIC’s proposed guidance for third-party lending regarding safety and soundness and consumer compliance measure that FDIC-supervised institutions should follow when lending through a business relationship with a third party. The proposed guidance covers strategic, operational, credit and compliance risks associated with third-party lending, and it ...

    0 0

    The Consumer Financial Protection Bureau has published a webinar and other resources on its website to help bankers comply with the Home Mortgage Disclosure Act final rule. The resources address institutional and transactional coverage, the data disclosure and submission process and key dates. Bankers can view the webinar on the bureau’s website or on YouTube. ...

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    The FDIC yesterday released updated videos on the Ability to Repay and the Qualified Mortgage rules. The updated videos provide bank management and compliance staff with resources to better help them understand the rule, and reflect changes in federal laws and regulations since their original release in 2014. Specifically, the updated videos reflect changes with ...

    0 0

    ABA and several trade groups wrote to the Department of Housing and Urban Development and the Department of Veterans affairs yesterday regarding recently issued guidance on Property Assessed Clean Energy loans, which provide homeowners a way to have their homes undergo energy-efficient retrofitting financed through property tax assessments. The groups urged the departments to suspend ...

    0 0
  • 08/18/16--14:39: Mortgage Rates Down Slightly
  • The rate for a 30-year fixed-rate mortgage averaged 3.43 percent this week, down from the previous week’s 3.45 percent, Freddie Mac said today. At this time last year, the 30-year FRM rate averaged 3.93 percent. This week’s 15-year FRM averaged 2.74 percent, down from 2.76 percent last week. A year ago, the 15-year FRM averaged ...

    0 0

    The federal banking agencies today issued aggregate data on 2015 small-business, small-farm and community development loans that institutions reported under the Community Reinvestment Act. The data, which commercial banks and savings institutions with about $1.2 billion or more in assets are required to report and others can report voluntarily, show that such institutions made about ...

    0 0

    The Office of the Comptroller of the Currency released an update to its Bank Accounting Advisory Series that includes recent answers to frequently asked questions in areas such as contingencies and fair value accounting. The BAAS is intended to promote consistent application of accounting standards among national banks and federal savings associations. While it does ...

    0 0

    Consumer Financial Protection Bureau Director Richard Cordray replied Wednesday to a letter spearheaded by Senate Banking Committee members Joe Donnelly (D-Ind.) and Ben Sasse (R-Neb.) that urged the bureau to exempt community banks and credit unions from certain regulations. The letter, cosigned by a bipartisan group of 70 senators, had cited a provision of the ...

    0 0

    Having happy, engaged employees is no longer just good for business—it is becoming a modern imperative.

    0 0

    Fed officials were divided on the timing of an increase in the federal funds rate, according to minutes from the Federal Open Market Committee’s July 26-27 meeting. The committee noted “moderate” economic expansion and strong job gains in July, but based their decision to keep rates as is on the need to further monitor job ...

    0 0

    ABA last week issued a members-only staff summary of the FDIC’s proposed guidance for third-party lending regarding safety and soundness and consumer compliance measure that FDIC-supervised institutions should follow when lending through a business relationship with a third party. The proposed guidance covers strategic, operational, credit and compliance risks associated with third-party lending, and it ...

    0 0

    The Consumer Financial Protection Bureau has published a webinar and other resources on its website to help bankers comply with the Home Mortgage Disclosure Act final rule. The resources address institutional and transactional coverage, the data disclosure and submission process and key dates. Bankers can view the webinar on the bureau’s website or on YouTube. ...

    0 0

    The FDIC yesterday released updated videos on the Ability to Repay and the Qualified Mortgage rules. The updated videos provide bank management and compliance staff with resources to better help them understand the rule, and reflect changes in federal laws and regulations since their original release in 2014. Specifically, the updated videos reflect changes with ...

    0 0

    ABA and several trade groups wrote to the Department of Housing and Urban Development and the Department of Veterans affairs yesterday regarding recently issued guidance on Property Assessed Clean Energy loans, which provide homeowners a way to have their homes undergo energy-efficient retrofitting financed through property tax assessments. The groups urged the departments to suspend ...

    0 0
  • 08/18/16--14:39: Mortgage Rates Down Slightly
  • The rate for a 30-year fixed-rate mortgage averaged 3.43 percent this week, down from the previous week’s 3.45 percent, Freddie Mac said today. At this time last year, the 30-year FRM rate averaged 3.93 percent. This week’s 15-year FRM averaged 2.74 percent, down from 2.76 percent last week. A year ago, the 15-year FRM averaged ...

    0 0

    The federal banking agencies today issued aggregate data on 2015 small-business, small-farm and community development loans that institutions reported under the Community Reinvestment Act. The data, which commercial banks and savings institutions with about $1.2 billion or more in assets are required to report and others can report voluntarily, show that such institutions made about ...

    0 0

    The Office of the Comptroller of the Currency released an update to its Bank Accounting Advisory Series that includes recent answers to frequently asked questions in areas such as contingencies and fair value accounting. The BAAS is intended to promote consistent application of accounting standards among national banks and federal savings associations. While it does ...

    0 0

    Consumer Financial Protection Bureau Director Richard Cordray replied Wednesday to a letter spearheaded by Senate Banking Committee members Joe Donnelly (D-Ind.) and Ben Sasse (R-Neb.) that urged the bureau to exempt community banks and credit unions from certain regulations. The letter, cosigned by a bipartisan group of 70 senators, had cited a provision of the ...

    0 0

    Having happy, engaged employees is no longer just good for business—it is becoming a modern imperative.