The jury is still out on whether new regulations are slowing down mortgage lending. It could just be the weather.
Purchase mortgages are down 15% from MBA forecasts, but this winter's inclement weather is at least partly to blame.
Compliance helps innovation rather than hinders it, according to Andrea Stritzke, vice president regulatory compliance at PolicyWorks.
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.
American Airlines Federal Credit Union has partnered with PolicyWorks to help ensure compliance with federal rules and regulations.
New CFPB rule governs all outgoing international wire transfers and ACH transactions.
Consultants say "this extraordinary chance at growth cannot be squandered" but CU leadership must proceed with caution.
Compliance consultants warn about making sure "free" really means "free" in advertising, promotions.