CRA TRACKING FOR PANDEMIC LOANS While we’re in the throes of the Covid-19 pandemic, the one thing we don’t need is more work. But it is an important season to think about how loan programs and modifications can work to …
There is seemingly no better time to scheme and scam than in the midst of a pandemic. On May 18th, FinCEN released an advisory regarding the uptick in reported activity related specifically to fraudulent cure, vaccine, and testing services; non-delivery …
MPF Policy Updates Related to COVID-19: Are You Perpared? On May 6, 2020 MPF released a policy update and clarifications to previous policies in place during the COVID-19 epidemic. Application dates through June 30, 2020 (previously May 17, 2020) are …
MPF Policy Updates Related to COVID-19: Are You Perpared? Natalie Reifsneider
US Secret Service Releases Guidance on US Stimulus Check Features In conjunction with the US Treasury, the Secret Service launched the “Know Your US Treasury Check Campaign” on April 20, 2020 to ensure citizens, retailers, and financial institutions can identify …
Julie J. Mixtacki US Secret Service Releases Guidance on US Stimulus Check Features
SAVINGS ACCOUNTS AREN’T SAVINGS ANYMORE? When the FRB lowered required reserve requirements for checking and savings accounts to zero percent on March 26, it set off a host of questions about how that action affected checking and savings account definitions. …
On April 1, 2020, the CFPB (Bureau) recognized that COVID-19 pandemic is having an impact on financial institutions as well as the customers they serve. The Bureau encourages financial institutions to work with borrowers and other customers affected by the …
Fannie Mae & Freddie Mac Requirements – Flexibility & Alternatives For Employment & Income Verifications In the wake of COVID-19 Fannie Mae and Freddie Mac are working in conjunction to offer temporary measures to provide lenders with clarity and flexibility …
COVID-19 Related Scam Reporting – FinCEN Guidance The Financial Crimes Enforcement Network issued guidance on March 16th regarding the potential for malicious and fraudulent financial activity conducted in the midst of the COVID-19 crisis. After monitoring public and BSA reports …
COVID-19 Related Scam Reporting – FinCEN Guidance Julie J. Mixtacki
No pandemic would be complete without the rollout of a new scam targeting the most vulnerable members of our families and population – the elderly. Some states have reported in recent weeks that the elderly have been on the receiving …
Elder Financial Exploitation – Pandemic Scams Julie J. Mixtacki
Fannie Mae and Freddie Mac published an announcement and appendix on October 23, 2019 regarding updated components of the redesigned Uniform Residential Loan Application (URLA). Currently, deadlines for implementing the URLA and automated underwriting system (AUS) have been extended from …
Extended Deadline for New Uniform Residential Loan Application for MPF Customers Natalie Reifsneider