Michelle Strickland, Author at TCA

HOEPA Calculation Worksheet for 2025 Loans

Tool to calculate whether your loan transaction is subject to HOEPA based on the points and fees and prepayment penalties paid by the borrower. Worksheets are updated annually to reflect changes loan amount thresholds. Select the worksheet based on the year the loan has been originated. Example: loan originated in December 2023 – select the HOEPA Calculation Worksheet 2023.01.

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Are there any requirements for specific disclosures on periodic home equity loan statements for consumers in bankruptcy? 12 CFR Part 1026.41 (Regulation Z) has requirements for closed-end consumer credit transactions but unclear about HELOCs.

Q&A / By Michelle Strickland

Are there any requirements for specific disclosures on periodic home equity loan statements for consumers in bankruptcy? 12 CFR Part 1026.41 (Regulation Z) has requirements for closed-end consumer credit transactions but unclear about HELOCs. Read More »

Does Lender Paid Mortgage Insurance (LPMI) and compliance with 12 U.S.C. 4905(c)(2) apply to HELOCs?

Q&A / By Michelle Strickland

Does Lender Paid Mortgage Insurance (LPMI) and compliance with 12 U.S.C. 4905(c)(2) apply to HELOCs? Read More »

1071 Preparation Guide Announcement

SBLAT, Small Business LAR - 1071 / By Michelle Strickland

The Supreme Court has ruled on the constitutionality of the CFPB’s funding. I am somewhat surprised by the outcome and glad a decision was announced on May 16, 2024. A second Motion for Summary Judgement was filed by the TBA, Rio Bank, and the ABA, essentially saying that the Final Rule for 1071 “goes far

1071 Preparation Guide Announcement Read More »

HOEPA Calculation Worksheet for 2024 Loans

Tools / By Michelle Strickland

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Please send an email to [email protected] or call 800-934-REGS for more information.

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Monitoring Commitments

Special Release / By Michelle Strickland

What flies like a bird and is something we never have enough of? Of course, it’s Time. You don’t need to look at a calendar to know we are more the done with half the year and summer is nearing its end; all you have to do is walk through your favorite store or watch

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CFPB Bulletin – HMDA Address Issues

HMDA, Special Release / By Michelle Strickland

Most of you have likely received an email bulletin from the CFPB HMDA Help regarding data issues in reporting the Street Address Field. It’s important to note this is regarding errors in the Street Address field only and not in other fields such as City/State/Zip and has nothing to do with geocoding the Census Tract.

CFPB Bulletin – HMDA Address Issues Read More »

Small Business LAR Action Team

SBLAT, Small Business LAR - 1071 / By Michelle Strickland

Forward by Michelle Strickland All of us in the financial services industry have been patiently waiting for clarification of Section 1071 of the Dodd-Frank Act. The CFPB plans to have a final rule issued by March 2023 – and we are quickly running out of daylight to meet that date – One more week to

Small Business LAR Action Team Read More »

FDIC Insurance – Communication is Key

Essential Compliance Consulting, Special Release / By Michelle Strickland

Because of the recent Bank failures, your customers may feel skittish today. Although the news pundits all are saying deposit accounts are insured up to $250,000, we know this may not be the case. Consider having Management craft a statement message or online banking alert assuring customers their funds are insured. You should also ensure

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Time to Put Your Junk in the Trunk?

Special Release / By Steven Gust, Michelle Strickland

The death knell for junk fees has sounded. There are emerging compliance risks surrounding junk fees that are gaining steam in Washington. While not new, the intensity or vigor of the current administrations’ pursuit of crimes (in their estimation) is increasing. Below is a link to two ABA article summaries which just came out on

Time to Put Your Junk in the Trunk? Read More »

Michelle Strickland

HOEPA Calculation Worksheet for 2025 Loans

Want to read more? Subscribe to RCM.

Are there any requirements for specific disclosures on periodic home equity loan statements for consumers in bankruptcy? 12 CFR Part 1026.41 (Regulation Z) has requirements for closed-end consumer credit transactions but unclear about HELOCs.

Does Lender Paid Mortgage Insurance (LPMI) and compliance with 12 U.S.C. 4905(c)(2) apply to HELOCs?

1071 Preparation Guide Announcement

HOEPA Calculation Worksheet for 2024 Loans

Want to read more? Subscribe to RCM.

Monitoring Commitments

CFPB Bulletin – HMDA Address Issues

Small Business LAR Action Team

FDIC Insurance – Communication is Key

Time to Put Your Junk in the Trunk?

Do You Need Compliance Help?

Phone

800-934-REGS

/

Email for Non-Confidential Information Only

[email protected]

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Office Location

2021 Midwest Road, Suite 200,
Oak Brook, IL 60523

Endorsed By

Michelle Strickland

Want to read more? Subscribe to RCM.

Want to read more? Subscribe to RCM.

Do You Need Compliance Help?

Phone

800-934-REGS

Email for Non-Confidential Information Only

Office Location

2021 Midwest Road, Suite 200,Oak Brook, IL 60523

Endorsed By

2021 Midwest Road, Suite 200,
Oak Brook, IL 60523