Archive: Fair Lending
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Jan 27, 2010
No CommentsRecent DOJ Settlements Signal Tougher Fair Lending Enforcement
By Edward Kramer, Executive VP, Regulatory Programs The Department of Justice has placed renewed emphasis on fair lending enforcement. In addition to the two recent DOJ cases involving alleged fair lending violations in the areas of mortgage and auto lending, recent activity of the DOJ is sending a crystal clear message on the direction of...
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Nov 23, 2009
No CommentsThe Top 8 Things to Consider When Modifying Loans
By Donald L. Morrow, Ph.D., Senior Consultant, Econometrician, Wolters Kluwer Financial Services|PCi Loan modification is a complicated process, focus on what is important and find what is measurable. “Where” can be as important as “whom.” Remember to focus on differences in frequency between protected and non-protected classes of key variables such as modifications, re-defaults, and...
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Oct 28, 2009
No CommentsLoan Modifications – The Next Fair Lending Frontier
By Edward Kramer, Executive VP, Regulatory Programs As U.S. mortgage servicers ramp up their loan modification efforts to help slow the exploding number of home foreclosures, the primary focus on doing so is mitigating financial losses for both the financial institution and borrower. However, the Treasury Department recently issued guidelines reinforcing the importance of compliance...
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Oct 23, 2009
No CommentsMore, or Less Consumer Regulation? More!
By Edward B. Kramer, Executive VP, Regulatory Programs As we all know by now, the House Financial Services Committee voted 39 to 29 on Thursday to approve legislation to create a consumer financial protection agency, a key priority in the Obama administration’s regulatory reform plan. The bill would remove from the federal banking and thrift agencies...
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Sep 21, 2009
No CommentsUptick in Federal Bank Regulator Enforcement on the Way…
by Edward B. Kramer, Executive VP, Regulatory Programs At last week’s MBA Regulatory Compliance Conference, a prominent Washington attorney noted that there would be a major uptick in federal bank regulator enforcement, both as part of usual examination process and as special inquiries. Jeff Naimon of BuckleySandler said there would be a strong focus on...
