Will An In-House Underwriter for Mortgage Loans in Florida Need a License?

By: Larry R. Rothenberg, Esq. and Lisa M. Rogers, Esq. On August 17, 2010, an Assistant General Counsel for the Florida Office of Financial Regulation (OFR) issued an informal opinion clarifying whether underwriters employed by Florida-licensed mortgage lenders will be required to be licensed as “mortgage loan originators” beginning October 1, 2010. Florida’s Senate Bill…

Current Issues in Credit Union #51.

This month Katherine, Hal, Anthony & Rob bring you: –Indirect Lending Guidance from NCUA. –More stuff on the CFPB –Proposed changes to Reg Z to enhance consumer protections for closed end mortgages, reverse mortgages and HELOCs. –Interim final rule to amend Reg Z to implement MDIA provisions.  –Final rule concerning mortgage sale and transfer notifications. …

Should Involvement of Third Party Debt Consultants Trigger SAR Requirements?

The following is an article reprinted with permission from the upcoming Fall 2010 edition of The WWR Letter: Should Involvement of Third Party Debt Consultants Trigger SAR Requirements? By: Robert Rutkowski, Partner In April of 2009, and again in June of 2010, the Financial Crimes Enforcement Network (“FinCEN”) issued advisories on foreclosure rescue scams. Particularly…

Piggy Mojo

 Today’s blog comes courtesy of Shari Storm, Senior Vice President and Chief Marketing Officer of Verity Federal Credit Union. Shari is the author of the new book ‘Motherhood is the New MBA”, available here. I’ve joked for a long time about my husband and my different spending habits. When Jim Bruene, at Net.Banker wrote about…