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|January 28, 2015|
|TIPs Bulletin #15-04||2014 Residential Mortgage Loan Report|
|TIPs Bulletin #15-03||HMDA/LAR Reports|
|January 16, 2015|
|TIPs Bulletin #15-02||2015 Information Returns and Disclosures|
|January 15, 2015|
|TIPs Bulletin #15-01||Important Reminder: Limitation on Credit Card / Unsecured Open-end Credit Late Fees (CA Financial Code 4001)|
Shared Compliance Services
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Internal Audit Services
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The SAFE Act requires residential mortgage loan originators who are employees of agency-regulated institutions to be registered with the NMLS Registry. The law generally prohibits employees of agency-regulated institutions from originating residential mortgage loans unless they register with the registry.
All institutions managing registered mortgage loan originators (MLOs) are required to renew their NMLS records each year. Registrations not renewed before year-end must be reactivated in order to be in an active status on the NMLS system.
The NMLS Annual Renewal Period begins Nov. 1 and ends Dec. 31 each year. According to federal regulations, both institutions and most individual MLOs must be renewed through NMLS annually.
If the renewal process is not completed prior to Dec. 31st, the MLO will have an "inactive" registration status both in NMLS and on NMLS Consumer Access. Inactive registrations must be reactivated in order to have an "active" registration status.
'EXPLORING MBL WITH SBA GUARANTEES'
updated 03/02/15 01:31 PM
Free SBA and NCUA Event
Credit unions interested in getting into member business lending (MBL) are advised to attend the free “Exploring Member Business Loans with SBA Guarantees” training forum in Glendale on March 10.
HMDA/LAR REPORTS COMING DUE
updated 02/23/15 03:44 PM
Plus, SBL Resource Center
Credit unions subject to Home Mortgage Disclosure Act (HMDA) requirements for 2014 activity are reminded to submit Loan/Application Register (LAR) data to the Federal Reserve Bank processing center by the March 2, 2015 deadline.