Lending Compliance
The lending compliance review is completed using statistical sample sizes outlined in the regulatory compliance examination manuals. Our review is focused on identifying potential problem areas before regulatory examinations.
During each review, we provide management with an objective evaluation of overall compliance performance. We will also prepare a written report to your directorate that describes the scope of the review, identifies specific areas of compliance and noncompliance, and provides recommendations to management for enhancing consumer compliance. Our review typically consists of the following regulations:
- Truth in Lending Act/Regulation Z :
- Real Estate Settlement Procedures Act (RESPA)
- Flood Disaster Protection Act
- Equal Credit Opportunity Act/Regulation B
- Fair Credit Reporting Act
- FRB Fair Housing Regulation
- Unfair or Deceptive Acts/Regulation AA
- Closed End Credit Disclosures for:
- Home Purchase and Reginance Mortgage Loans
- Construction and Construction/Permanent Loans
- ARM Loans
- "High Rate, High Fee" Mortgages
- Consumer Installlment Loan
- Open End Credit Disclosures for:
- Home Equity Lines of Credit
- Credit Cards
- Overdraft Lines of Protection
- Right of Rescission