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Author Archives: Howard Goldthwaite

Panel: Lenders, Not Vendors, Responsible for Accurate Appraisals

A recent bulletin from the Office of the Comptroller of the Currency (OCC) recommends new guidelines for national banks and federal savings institutions regarding their third party vendors, including appraisal management companies (AMCs). Banks and mortgage lenders are cautioned to choose their appraisers and other vendors wisely, as regulators will hold lenders accountable of the quality and accuracy of their vendors' work.

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Coping With CFPB’s Rule Changes: Information and Data Management

If you haven't reviewed the upcoming changes in regulations from the Consumer Financial Protection Bureau, better put on a big pot of coffee. On January 10, the rules are changing, and this includes amendments to the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z). Which areas of mortgage servicing are impacted? It might be simpler to ask which areas aren't impacted.

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