Articles

HMDA: The Significance of Conditional Approvals and Approved But Not Accepted Applications

December 20, 2019 - 5 min read

The Home Mortgage Disclosure Act (HMDA) requires institutions to indicate what “action” was taken on reportable applications. The institution must choose between a finite list of these actions to describe what exactly happened to the covered loan or application. What was the ultimate outcome? Was the transaction originated or purchased from another institution? Was the…

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Risk Management Guidance for Higher-Loan-to-Value Lending Activities in Communities Targeted for Revitalization

September 30, 2019 - 5 min read

On June 19, 2019, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2019-28 Risk Management Guidance for Higher-Loan-to-Value Lending Activities in Communities Targeted for Revitalization (the 2019 Bulletin) and rescinded its prior bulletin of the same title, OCC Bulletin 2017-28 (issued August 21, 2017) (the 2017 Bulletin). The purpose of the…

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TRID Construction FAQs

September 17, 2019 - 3 min read

On May 31, 2019, the CFPB released two new frequently asked questions (FAQs) to address the application of the TILA-RESPA Integrated Disclosure (TRID) rules to consumer construction loans. FAQ #1: Are construction-only loans or construction-permanent loans covered by the TRID Rule? Yes. Generally, a loan, including a construction-only and construction-permanent loan, is covered under TRID if…

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Professional Bank Services To Showcase ProBank Advisor Compliance Advisory Service at LENDIT FINTECH USA 2019

March 29, 2019 - 2 min read

March 29, 2019, Louisville, KY—Professional Bank Services, Inc. is excited to introduce ProBank Advisor, the company’s new online Compliance Advisory Service, at LendIt Fintech USA, on April 8 and 9 in San Francisco, CA. Developed by industry professionals with decades of hand-on experience and knowledge, ProBank Advisor provides thorough answers on Lending, Deposits, Bank Secrecy…

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