MADISON, Wis. (5/16/14)--The Credit Union National Association's compliance resource site, CUNA RegTraC, has added new mortgage lending regulation information.
"This is a significant addition to CUNA RegTraC, and something we know will bolster the compliance efforts of our nationwide subscriber base," said Melisa Kallestad, CUNA instructional design manager for compliance.
"Having easy reference to major regulatory disclosure requirements with real-time updates on closed-end mortgage loan regulation will prepare our credit unions to stay one step ahead of the 2014 compliance game," she added.
The newly added information identifies the major regulatory disclosure requirements for closed-end home-secured loans, starting with the requirements at the time of application through servicing of closed-end mortgage loans. It also provides additional resources that may be helpful in understanding the regulatory provisions involved.
Designed for compliance professionals, management, senior executives and anyone needing a detailed regulations reference, RegTraC features compliance and legal updates in a downloadable PDF format.