Credit unions have been preparing to comply with several new mortgage rules that take effect Jan. 10.
CUNA attorney says credit unions will continue to make QM business decisions up to today's compliance deadline.
The Credit Union Association of New York announced the promotion of three employees.
From East and West, Midwest and South, credit union people in the news.
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.
PolicyWorks, a compliance product and service provider, said it recently signed on Alliant Credit Union of Chicago.
Agency invites credit unions to Iowa hearing, providing date but no location or other details.
Because credit unions already generally abide by new final qualified mortgage and ability-to-repay rules released Jan. 10 by the Consumer Financial Protection Bureau, the most difficult compliance burden will be to document the process, said John Bundy, compliance manager for CUNA Mutual.
Compliance specialists cite shortcomings for credit unions in CFPB's new qualified mortgage exemption.
The Kentucky Credit Union League has formed a partnership with PolicyWorks, a compliance consultancy.