Wednesday, October 20, 2021

Week of March 1

In This Issue…

Lenders should avoid inputting new PPP applications for now

The OBA has been told “unofficially” that lenders should hold off on inputting any new PPP applications until the new application forms are released for the categories covered by President Biden’s recent executive order.

The reason is there will be no opportunity to seek increases if an incorrect amount is requested.

We’ll share more information as soon as it becomes available.

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Share of delinquent mortgages doubles during pandemic

The number of homeowners that are behind on their mortgage has doubled since the beginning of the pandemic, with 6% of mortgages in delinquency as of December 2020, according to a new report issued by the CFPB on Monday.

A total of 2.1 million mortgages are considered “seriously delinquent,” with borrowers more than 90 days behind on making their payments and, in addition, an estimated 8.8 million tenant households are behind on their rent, the bureau found.

While COVID-19 relief programs have reduced the number of foreclosures and evictions thus far, the bureau estimated that 11 million families could be at risk of losing their homes as COVID-19 relief measures expire.

Click here to read the full story from the ABA.

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Get free personalized PSA encouraging community to vaccinate

The Oklahoma Bankers Association has created COVID-19 vaccine-related public service announcements for its member banks, both in advertising form as well as in story form, ready for display at the bank or for insertions into local newspapers.

These free advertising files and stories, themed as “Nothing’s Safer Than Money In The Bank … Except For The COVID-19 Vaccine”, echo the Association’s successful “Nothing’s Safer Than Money In The Bank” public relations campaigns from the past two decades.

The PSAs will enable banks to reassure their community about the safety of the vaccines, as well as encourage everyone possible to get vaccinated, which will more quickly allow the nation and the state to get back to business as normal – something beneficial to both communities and banks.

For more information on these PSAs, or to get branded versions for your bank, contact the OBA’s Jeremy Cowen (jeremy@oba.com) at (405) 424-5252.

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Make your nominations for 50-Year Club

The OBA is proud to promote the recognition of bankers who have devoted 50 or more years of service to the banking industry. All eligible nominees will be honored at the 2021 OBA Convention, held May 24-26.

Click here to download a nomination form. If you have any questions, please contact Janis Reeser at 405-424-5252 or janis@oba.com.

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OBA education corner …

Bring on the spring weather! The sun is out, and so are some new OBA education events. Check out the list below:

NOTE: Effective March 16, 2020, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations.

  • Third and Fourth Party Management, webinar, March 10 — We will explore best practices for vendor management, third party risk management, fourth party management and customer risk management.
  • Consumer Real Estate Loans, webinar, March 10 — This webinar will help you tame those scary real-estate-loan problems and will be particularly helpful to banks wanting to offer consumer real-estate loans for the first time in several years.
  • Legal Liabilities when Check Fraud Occurs, webinar, March 11 — This session will focus on the best practices when check fraud occurs that can be employed by banks rather than looking at any particular state’s laws.
  • New QM Standards Under the Truth in Lending Act, webinar, March 12 — This webinar will cover the changes made by the CFPB in regards to what makes a loan a Qualified Mortgage. With an effective date of July 1, financial institutions need to start preparing now for these changes.
  • Controlling Risks of Power of Attorney Documents, webinar, March 18 — This session will focus on the best practices that can be employed by banks rather than looking at any particular state laws.
  • Event ACH Origination and Same Day Entries, webinar, March 18 — We will discuss the benefits of ACH Origination for your bank and your customers.
  • What Goes Into a Valuable Impact Analysis?, webinar, March 22 — A good Business Impact Analysis helps you make important recovery decisions, specifically which business processes should you restore first (and in what order), and what is needed to restore those business processes. This webinar will cover how to build such a valuable BIA.
  • 2021 Basic Personal & Business Tax Return Analysis, April 8, Tulsa, April 9, Oklahoma City — Attend this proactive seminar and gain an understanding of the often complex and confusing topic of TAXES!

Are you interested in joining an OBA board or committee? Click here to complete the Committee Interest Form for 2021-2022. We would love for you to get involved!

Also, applications are open for the GSB-Madison Graduate Banking School Prochnow scholarship. Click here to read about the scholarship and apply. Applications should be sent to janis@oba.com by March 19.

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