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Now’s the ideal time to double-check mortgage policies and procedures. Read more

 

Depending upon the size and complexity of your credit union, a Compliance Committee can be a great asset for your compliance program. Read more

 

New Reg Z rules contain a broader definition of ‘loan originator.’ Read more

 

By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations. Read more

 

Credit Union National Association (CUNA) and PolicyWorks, a credit union compliance firm, have partnered to create two mortgage lending compliance solution packages for credit unions: CUNA Mortgage Compliance Implementation Toolkit and ComplyRight Mortgage Compliance Solution. These resource bundles are designed to facilitate the management and implementation of the new mortgage compliance regulations and updates affecting the credit union movement. Read more

 

DES MOINES, IA (July 2, 2013) In conjunction with credit union compliance firm PolicyWorks, the Credit Union League of Connecticut is providing compliance training for member credit unions. A dues-based service, the training takes the form of live webinars on critical compliance training for credit union employees concerning federal regulations. Read more

 

Review mortgage lending policies and procedures to ensure compliance with new Reg Z amendments. Read more

 

The Ohio Credit Union League said Thursday it will be offering its 365 credit unions preferred pricing on ComplyRight compliance services solution from PolicyWorks LLC of Des Moines, Iowa. Read more

 

St. Louis Community Credit Union has contracted compliance firm PolicyWorks to help execute the credit union’s strategic compliance program. Read more

 

Through a new partnership with PolicyWorks, Alliant Credit Union will have access to onsite compliance training. Read more

 

New CFPB rules change the definitions and coverage of two types of mortgages. Read more

 

Regulatory compliance firm PolicyWorks today announced the availability of ComplyRight, a full-service, comprehensive compliance solution for credit unions. In partnership with PolicyWorks, sister company The Members Group (TMG) will offer ComplyRight to its credit union clients at a significantly reduced price. Read more

 

According to Andrea Stritzke, vice president of regulatory compliance for the Des Moines-based compliance firm PolicyWorks, the bureau contacted her organization in advance of the hearing announcement, inviting it and Iowa credit unions to attend the hearing and participate in a roundtable on the topic the previous day. Read more

 

Shore up current compliance procedures before new rules take effect. Read more

 

Does CFPB's new 'ability to repay/qualified mortgage' rule apply to my credit union? Read more

 

WASHINGTON (2/27/13)--Credit unions are facing a barrage of new Consumer Financial Protection Bureau mortgage regulations, and the first step in dealing with these regulations should be credit union staff education, panelists at a Tuesday Credit Union National Association Governmental Affairs Conference session said. Read more

 

"Mortgage loan changes that have come and other changes that may be coming have kept credit unions in limbo or a state of transition," says Jeff Andersen, an attorney with PolicyWorks, a regulatory and compliance consulting division of the Iowa Credit Union League. "It can be a bit of a juggling act." Read more

 

One analysis firm is noting that even if a credit union services fewer than 5,000 loans-the threshold for complying with the CFPB's more than 1,800-pages of regulations on mortgage servicing-it will still be subject to the new rules if it uses a master servicer whose total volume exceeds the threshold.

And that's just one of the challenges the new rules is presenting to credit unions that offer mortgages to members, according to PolicyWorks, a consultancy that works with CUs on regulatory compliance and government/public affairs. Andrea Stritzke, VP of regulatory compliance for the firm, and Jeff Andersen, regulatory counsel, told Credit Union Journal for starters, the new rules will be a drain on resources-human and capital. Read more

 

Credit Unions Already Generally Abide by CFPB's New Qualified Mortgage, Ability-to-Repay Rules Read more

 

Andrea Stritzke, vice president of regulatory compliance for the Des Moines, Iowa-based compliance firm PolicyWorks, said the proposed rule eases the 43% debt-to-income ratio requirement for qualified mortgages for small lenders that fund fewer than 500 mortgages per year. Read more

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