All tagged Video

What is BSA?

Adam uses this Compliance Clip (video) to explain what BSA is in the banking industry. This video provides a high-level overview of BSA and money laundering, giving a general overview of the rule. For more information on BSA and anti-money laundering laws, take a look at our BSA Basics program at www.compliancecohort.com/bsa-basics.

HMDA Temporary Financing for Bridge Loans

In this Compliance Clip (video), Adam talks about HMDA applicability for bridge loans under the new temporary financing rules. While these rules have been around for a bit now, we are still seeing some confusion with reporting (or not) bridge loans as it relates to HMDA.

5 Reasons Why the New Reg CC Amendments are Terrible!

In this Compliance Clip (video), Adam explains 5 reasons why the new Regulation CC amendments are terrible for financial institutions. Okay, they aren’t really “terrible,” but they definitely aren’t ideal or as good as they could have been. As you will see in this video, there are a number of challenges this new rule creates, so it will be imperative for financial institutions to quickly create a strategy for implementing these rules. Adam concludes by providing a brief overview of a solution to help you easily navigate the challenges associated with this new rule - our new training program on the Regulation CC amendments, which can be found at https://www.compliancecohort.com/video-webinar-regulation-cc-june-2019-amendments

HMDA Income for Cosigners (Video)

In this Compliance Clip (video), Adam explains how to report income under the Home Mortgage Disclosure Act in relationship to cosigners. The question we have this:

Question: A loan has one borrower and a co-signer. Do I report the income of just the borrower, or do I report the income of the co-signer since we wouldn’t do the loan with just the borrower?

The answer to this come from 1003.4(a)(10) of Regulation C. In this video, Adam breaks down the different HMDA requirements for reporting income as it relates to co-signers and breaks down a few key phrases as well as the applicable commentary to Regulation C.