The end of 2018 brought several regulatory updates lenders will need to prepare for in the New Year. Here’s a look at the topics we featured in our compliance blog in November and December. For more details, check out our compliance website here. And, if you are not already receiving updates, take advantage of our free subscription service and have compliance updates delivered directly to your email.
It’s with a great deal of pride that we announce our President and CEO, Amy Brandt, has been selected as a winner of HousingWire’s 2018 HW Vanguard Award. She was recognized by the publication for her more than two decades of proven leadership and success within the mortgage, software, technology and financial services industries.
October was a significant month for compliance as the new TRID 2.0 standards went into effect. We have written a great deal about that rule on this blog, so this update will focus primarily on state and investor requirement changes we saw in September and October.
TRID 2.0 News
As the hard deadline with the new 2018 TRID rules approaches, a number of updates were made last month that will impact lenders going forward and help them remain in full compliance.
We are less than two weeks away from the mandatory compliance date for TRID 2.0. As of October 1, 2018, the CFPB will expect every lender to be in full compliance with the new amendments.
This means that lenders need to make certain that they are ready to make the transition to the updated rules. With the right preparation, you can be certain that this change will occur in a smooth and orderly fashion.
At Docutech, we have been working on the changes for the last year and can assure our partners that we are ready and assist them with their final TRID 2.0 preparations and testing.
Summer typically sees fewer compliance updates, and this summer is no different. That said, we did see some changes in California and from the nation’s largest secondary market investor.
All of these changes were detailed on our compliance blog. Subscribe to learn about all of the industry’s compliance news before anyone else.
If you were out enjoying the sun, the beach and the summer in June, it might have been easy to miss some compliance changes and document updates. To help you catch back up, in this month’s compliance recap, we spotlight key lending-related compliance issues and document changes that occurred in June. For more details on any of these important changes, follow the links below to visit our compliance blog.
Our compliance experts have been hard at work, cataloging the rule changes being published by regulators and investors across the country. In this roundup, we offer some compliance news and a number of document changes that occurred in May. For more details on any of these important changes, follow the links below or visit our compliance website.
Ask most lenders their number one headache, and the answer is usually keeping up with compliance changes. Compliance requirements take many forms – ensuring fair lending, accurate reporting on loan activity and maintaining documents that are clear and up-to-date with all federal, state and investor guidelines are just a few of the details that must be managed daily.
