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Guidance for Higher-Loan-to-Value Lending Activities in Communities Targeted for Revitalization (the 2019 Bulletin) and rescinded its prior bulletin of the same title, OCC Bulletin 2017-28 (issued August 21, 2017) (the 2017 Bulletin).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…
read article →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…
read article →The Federal Deposit Insurance Corporation (FDIC) recently released their Community Reinvestment Act (CRA) exam schedule for the 3rd quarter of 2019. Whether your institution is on the exam schedule or not, it is important to keep up-to-date regarding knowledge of your assessment area. Below are useful resources for information regarding state, county, census tracts, and…
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