July | 2022 | Alabama Bank News

Compliance Q&A: Recent UDAAP Changes

Breaking, Compliance Q&A, Publications

Question: Have there been any changes to UDAAP recently? One of our providers has made changes to some of their documentation involving UDAAP and we are wondering if there has been a recent change. Answer: Yes, the CFPB recently updated its UDAAP exam procedures ...Read More

TRID Construction Loan Considerations

Breaking, Compliance Q&A, Publications

QUESTION: For a TRID construction loan disclosed as two transactions, what should we disclose as the interest rate if it’s variable we don’t know what the rate will be during the permanent phase? ANSWER: If it will have an adjustable rate and the rate ...Read More

Compliance Q&A: SCRA Procedure Considerations

Breaking, Compliance Q&A, Publications

Question: Our current SCRA procedures say that the interest rate should be retroactively applied to the date on which the service member was called to military service. In the case of a member of the reserve, though, would that be the date that they ...Read More

Monthly Archive:: July 2022