Archive: Wiz Software
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Jul 09, 2009
No CommentsHigher Priced Mortgages – Freddie Mac Guidance
Freddie Mac has issued their guidance about purchasing higher priced mortgages starting October 1st. Their guidance may have answered our questions about how to originate 5 year balloons and ARMS. For it appears they will not purchase these loans. This new wrinkle makes it even more important to test your loans early and often. If the loan...
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Jun 29, 2009
No CommentsNew Account Fraud can be controlled
By Kevin Byrne, Senior Regulatory Consultant, Wolters Kluwer Financial Services After reading the article below, you wonder how a person can successfully perpetrate new account fraud via identity theft at a financial institution (FI). Simply put, it shouldn’t happen. ID theft is now “old news” and we all know how the thieves get the information...
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May 27, 2009
No CommentsRegulation Z vs. Regulation C – What will it tell your examiners?
The industry continues to talk about the interplay between the new higher priced mortgages under Regulation Z and the HMDA reporting requirement under Regulation C. These are two areas of concern. First, the reportable rate spreads that are filed on your HMDA report will be an easy starting point for examiners to find higher priced...
