The Point: Aug. 16, 2013

CFPB publishes new mortgage exam procedures

Yesterday, the CFPB posted updated examination procedures for Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) compliance. The documents address exams for Ability-to-Repay/Qualified Mortgages, high-cost mortgages and appraisals for higher-priced mortgage loan regulations, as well as new amendments related to the escrows rule and credit card regulation changes.

The CFPB has now released exam procedures for mortgage origination rules issued through May 29 and mortgage servicing rules issued through July 10. More releases are planned.

For more information or to access the updates, view the related press release.

NCUA launches FAQ+ tool for CUs

NCUA's Office of Small Credit Union Initiatives (OSCUI) has launched a new online search engine to help credit unionists get answers to frequently asked questions. The tool, FAQ+, is now available in the top right area the OSCUI landing page and each subsection.

After entering a question, users will receive a response or list of responses matching the request. As more questions are asked, the search engine database will be expanded with more answers about OSCUI's programs and services.

If a question is not addressed by the answers provided, FAQ+ offers an online request function to contact OSCUI staff.

Upcoming webinar will explore mobile apps for auto lending

The consumer adoption rate of mobile devices has grown exponentially, with up to 78 percent of consumers using a mobile device during the vehicle-buying process. To help credit unions maximize this trend, CU Direct and CUDL are hosting a free webinar titled "Mobile Technology: Build Member Relationships and Grow Auto Loans."

The event will be held Aug. 20 at 11 a.m. Participants will explore the use of mobile apps to grow auto lending programs, as well as:

  • the latest marketplace mobile trends and consumer behaviors;
  • how mobile technology and mobile apps are redefining interactions with members;
  • why mobile apps are vital to growing auto loans; and
  • keys to successfully adopting a mobile strategy.

To learn more or register, visit the event webpage.

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