On December 20th, the Georgia Department of Banking and Finance finalized its proposed rules on temporary authority for loan originators to operate without a license. Loretta Salzano was the sole non-DBF attendee at the hearing and was pleased to work…
News & Resources
New Georgia Rules Regarding Temporary Authority To Operate Effective January 9, 2020 (except for Disclosure Requirement)
Posted in Hot Topics
IRS Posts Guidance on the Taxpayer First Act
On December 19, 2019, the Internal Revenue Service (“IRS”) posted guidance on the Taxpayer First Act, clarifying that Section 2202 applies only to disclosures made by the IRS after December 28, 2019. The Taxpayer First Act requires a lender obtain…
Posted in Hot Topics
Fall 2019 Announcements
We are pleased to announce that Randy Winningham is working with our firm as an Analyst performing regulatory compliance and internal audits. Randy focuses on reviewing clients’ loans, policies and procedures for compliance with ECOA, HMDA, TILA, RESPA, HMDA, FCRA…
Posted in Announcements, Newsletters
Fall 2019 Federal Highlights
Fannie Mae and Freddie Mac Publish Updates to URLA Fannie Mae and Freddie Mac (GSEs) published the static components of the updated Uniform Residential Loan Application (URLA), which reflect revisions directed by the Federal Housing Finance Agency announced in August…
Posted in Federal Highlights, Newsletters
Fall 2019 States In Brief
California The Governor of California signed into law Assembly Bill 539, the Fair Access to Credit Act, concerning California’s Financing Law. The Bill authorizes a finance lender with respect to a loan of a bona fide principal amount of $2,500…
Posted in Newsletters, States In Brief
Fall 2019 “Talking The Talk”
Loretta Salzano and Jenny Dozier will be speaking on a variety of hot topics at key conferences throughout the country. Conference attendance is a great way to stay informed on the latest happenings in the industry – and it provides…
Posted in "Talking The Talk"/Conferences, Newsletters
Georgia Issues Proposed Rule on Temporary Authority to Operate
The Georgia Department of Banking and Finance (“DBF”) has issued a proposed rule regarding “temporary authority to operate” as a loan originator (as provided in the amended SAFE Act). The proposed rule can be found at the following link: Proposed…
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Transitional Authority Coming Soon!
Effective November 24, 2019, mortgage loan originator (“MLO”) transitional licensing authority will allow qualified MLOs who are changing employment from a depository institution to a state-licensed mortgage company and qualified state-licensed MLOs seeking licensure in another state to act as…
Posted in Hot Topics, Newsletters
FDIC Spotlights RESPA Section Violations
In its June 2019 Consumer Compliance Supervisory Highlights the FDIC put the spotlight on RESPA Section 8 violations, and it would be prudent for anyone involved in payments for lead generation or in marketing or lease arrangements with referral sources…
Posted in Hot Topics, Newsletters
Summer 2019 Federal Highlights
GSEs Announce Update to Uniform Residential Loan Application On August 9, 2019, Fannie Mae and Freddie Mac (GSEs) announced the mandatory use of the redesigned Uniform Residential Loan Application (URLA) and AUS datasets will no longer begin on February 1,…
Posted in Federal Highlights, Newsletters