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Clarification – Risk Base Pricing Disclosures Made Easy (?)

One of my new year’s resolutions is to be very diligent in creating a valuable newsletter every week. My second resolution is to make sure I have it proofed three times before sending. The newsletter article titled “Risk Based Pricing Disclosures Made Easy”sent out on December 30th, 2010 describes the lender’s option to issue a Residential Mortgage Credit Score...
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Risk Based Pricing Disclosures Made Easy (?)

Like RESPA in 2010 we are faced with a yearend disclosure that at first can seem relatively straight forward but the details start to make operations managers nervous. The Risk Based Pricing (RBP) policies and disclosures required as of 1/1/11 will need some attention to make sure both the technology and operations have been considered. The regulation requires creditors (therefore not mortgage...
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The Red Flags Rule: Deadline Extended

The Red Flags Rule has been extended three times. Lenders are required to have a written policy in place no later than December 31,2010. Don’t expect an extension again! (Well maybe) Attached is a sample red flags policy that is available at the FTC website. For those of you at a small to midsized community bank or credit union, lender or broker, you may find that this template is the best...
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