Thursday, February 2, 2023

Week of Jan. 17

In This Issue…

Federal Housing Finance Agency issues advisory on mortgage servicing rights

The Federal Housing Finance Agency last week released an advisory on the valuation of mortgage servicing rights for managing counterparty credit risk.

The notice is intended to communicate FHFA’s supervisory expectations for Fannie Mae and Freddie Mac “to establish and implement risk management policies and procedures for monitoring and valuing seller/servicers’ mortgage servicing rights.”

This bulletin only applies to MSRs for single-family mortgage loans and is effective April 1.

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Review your bank’s information for OBA directory

The Oklahoma Bankers Association Directory of Banks is again being produced this year by NFR Communications. To best serve you, we want to include the most up-to-date and accurate information about your bank, your branches and your staff. However, we need your help.

To ensure we are using the most accurate information, please follow the instructions provided in the letter that was mailed to your bank last week by NFR Communications. Please review and revise as necessary the financial directory listing for your holding company, your main bank and your branches. You can also use the login information that was included in the letter to update your listing online or, if needed, download a new form.

For questions and completed forms, please email directories@nfrcom.com. Please update the information no later than Feb. 3.

We appreciate your help in making the 2023 Edition of the Oklahoma Bankers Association Directory of Banks a success.

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OBA education corner …

How’s that gym workout new year’s resolution going? No, we’re not judging, we’re just hoping you make us feeling better about our own! If all your resolutions are still intact, or even if you’re dining over the ashes of them already, you can still take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • Overdraft Hot Spots — When Will We Ever Learn, Jan. 24, webinar — It’s 2023 and your examiners are due at your financial institution next month. Will your financial institution pass the test?
  • The UCC for Lenders, Jan. 25, webinar — This program is a comprehensive Uniform Commercial Code secured lending program for persons new to banking and is also recommended as a refresher.
  • Hiring for the Right Fit, Jan. 25, webinar — This program will step you through the best practices of hiring for the right fit. Being intentional about training managers and supervisors on the hiring process is key to creating stellar teams.
  • Health Savings Accounts – Annual Review and Potential Pitfalls, Jan. 26, webinar — This webinar will clarify what is our job and what is the client’s job in regard to paying attention to how much they are contributing and what distributions are being used for.
  • Marketing in 2023: Digital and Social Media Compliance Considerations, Feb. 1, webinar — Today’s marketing department has the benefit of many advertising options, including social media, websites, TV, radio and more. Whether your promotions are digital, print or televised, multiple compliance regulations strictly prescribe what can be said, the elements that should be included and how they should be displayed. Compliance violations can result in fines or lawsuits.
  • 2023 Compliance UpdatesJan. 26-TulsaFeb. 2-Oklahoma City — The updates provide a review of issues and concerns facing every bank’s compliance team. Hot topics, trends and common compliance mistakes will be covered.
  • Advanced TRID Compliance, Feb. 2, webinar — This webinar will take a look at the TRID from an advanced perspective.
  • 2023 Call Report Update, Feb. 23, Oklahoma City — This 6-hour training will provide information on new, proposed, and revised changes to the Call Report with identification of specific Call Report line items impacting March 2023 and beyond.

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