Posted by Anthony Demangone
Internet Gambling. NCUA has released Regulatory Alert 10-RA-08 to alert federally-insured credit unions about the need to comply with Regulation GG - the internet gambling regulation. Hopefully, this isn't news to you, as the requirement to comply kicked in on June 1.
FHA Reform. Earlier this month, HUD issued Mortgagee Letter 2010-20. The letter highlights the effects of a recent FHA Reform-related final rule.
This Mortgagee Letter provides an overview of key provisions of HUD’s recently issued final rule referenced above, and guidance to mortgagees on HUD’s implementation of this final rule.1 This rule increased the net worth requirements for FHA-approved mortgagees, eliminated FHA approval of loan correspondents, codified requirements of the Helping Families Save Their Homes Act of 2009 (Public Law 111-22), and made minor modifications to other aspects of FHA’s regulations governing lender activities. Changes to applicable HUD Handbooks are forthcoming.
OCC Consumer Compliance Handbook. The OCC has updated its Consumer Compliance Handbook. If I had a bell, I would ring it, as this handbook is a fantastic resource. It looks like they updated their RESPA, HMDA and Truth in Savings sections. Sure, it is the OCC. But those regulations generally affect us the same way.
Personal wish. When checking voice mails, I have detected a trend. People leave a wonderful message, full of warmth and good cheer. But when they leave their phone number, they speed up. It almost seems like they are trying to set a record by giving a phone number in 3.4 nanoseconds. I invariably have to listen to the message two or more times before I can get all 9 digits. I'm guessing this has happened to you, and I bet I've been guilty of the same offense. So let's all give our phone numbers in a slow, clear manner. Now, you may think it is strange to use the blog for this kind of wish. Perhaps. But I think this wish has a better chance of coming true than my other wish, which involves a certain Washington-area baseball team winning the World Series. Oh, and world peace. Can't forget that.
I second the suggestion to slow down when giving a phone number or any pertinent information on voice mail. Speaking clearly helps also!
Posted by: Patty | June 24, 2010 at 08:25 AM
You are even allowed to repeat the phone number. I appreciate that when I've heard it.
Posted by: Robin | June 24, 2010 at 10:26 AM
Patty and Robin, thanks for the support. Someday, we may live in a world where one only has to listen to a voice mail once. Ah, per chance to dream.
Posted by: Anthony Demangone | June 24, 2010 at 10:29 AM
You might be having a hard time getting the right phone number because you are only listening for 9 digits. There are 10 digits in a phone number with area code!
Posted by: Anonymous | August 30, 2010 at 02:41 PM
Anonymous - you raise a good point, which was raised my many others!
Posted by: Anthony Demangone | August 30, 2010 at 03:02 PM
re: "OCC Consumer Compliance Handbook. The OCC has updated its Consumer Compliance Handbook."
The Consumer Compliance Handbook that was recently updated is published by the FRB-- not the OCC. This distinction is especially important for 2 of the updates you reference (HMDA and Truth in Savings) because the FRB has rulemaking authority for these statues.
Posted by: KB | September 01, 2010 at 05:06 PM
KB - great point. At least the hyperlink took you to the right place, even if the author was typing faster than he was thinking!
- Anthony Demangone
Posted by: Anthony Demangone | September 02, 2010 at 11:54 AM