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Creation of HPMLs and Requirements for Verification of Repayment Ability for HPMLs and HOEPA Loans New Escrow Requirement for HPMLs Effective for Applications Received on or after April 1, 2010 (October 1, 2010 for Manufactured Homes) Restrictions on Prepayment Penalties for HPMLs and HOEPA Loans Effective 10/1/2009 Revisions to HMDA (Reg C) Incorporate Reg Z’s Addition of HPMLs Effective 10/1/2009 …
September 2009
August 2009
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August 7, 2009
August 2009 Legal Briefs
Greetings from the OBA’s New General Counsel After the Loan: Don’t Lose Your Priority to a Federal Tax Lien Credit Card Act of 2009: Certain Provisions Effective August 20, 2009, Plus Overview of Remaining Provision Home Valuation Code of Conduct: Affects Sale of Residential Mortgage Loans to Fannie Mae and Freddie Mac Beginning May 1, 2009 New Notice Required Upon …
July 2009
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July 9, 2009
July 2009 Legal Briefs
Reg D – Savings Deposit Transfers Rule Changes July 2, 2009 Reg Z – MDIA Changes – Effective July 30, 2009 The Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) The Oklahoma Department of Consumer Credit’s Truth in Lending Permanent Rule Consumer Loan Dollar Amounts – No Changes
May 2009
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May 19, 2009
May 2009 Legal Briefs
Charging Consumer Interest Using a 360-Day Year? Adding a Floor to Variable-Rate Mortgage Loans? Waiving a Rate That is Too High Default Interest Not Allowed on Consumer Loans?
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May 4, 2009
April 2009 Legal Briefs
New Rules for Disclosure of Overdraft Fees 1. Disclosing Total Fees Charged 2. Required “Tabular” Format 3. What Fees are Included 4. Disclosure of Account Balances 5. Making Other Choices? 6. Other Pending Proposals Helping a Customer to Avoid or Decrease Overdraft Charges
March 2009
February 2009
January 2009
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January 29, 2009
January 2009 Legal Briefs
Various Cost-of-Living Increases in Dollar Amounts for 2009 No IRA Minimum Distributions Required for 2009 Interagency Statement on Meeting Needs of Creditworthy Borrowers
December 2008
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December 15, 2008
December 2008 Legal Briefs
Creditor Must Be Notified if Personal Representative Rejects a Claim in Probate Unclaimed Property—Collecting Fees Owed on Safe Deposit Boxes Oklahoma Adopts Uniform Real Property Electronic Recording Act Notification Required for Security Breach Of Computerized Data
November 2008
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November 8, 2008
November 2008 Legal Briefs
Capital Purchase Plan Deadline Extended for Non-publicly-traded Banks "Opt Out" Date Extended for FDIC’s Temporary Liquidity Program Tax Free Charitable Distributions from IRAs