Home > Product Update Notification - 01/11/10

Product Update Notification - 01/11/10

New Policy Template

Secure and Fair Enforcement for Mortgage Licensing Act (SAFE ACT) Policy

This new product was developed in response to the FDIC FIL-64-2009 entitled "Secure and Fair Enforcement Act of 2008 - Final Rule" (the "SAFE Act") dated 11/13/09.  The final rule The SAFE Act improves the accountability and tracking of residential mortgage loan originators (MLOs), enhances consumer protection, reduces fraud, and provides consumers with easily accessible information regarding the professional background of MLOs:

http://www.fdic.gov/news/news/financial/2009/fil09064.html

Revised Policy Templates

Human Resources General Policy Template
Real Estate Loan Policy Template

The revision to these products is in response to the above mentioned release regarding the SAFE Act.  Both of these templates contain the complete version of the SAFE Act Policy Template.

Regulation Z Policy Template

The update to this product is in response to the following regulatory guidance:

Federal Reserve Press Release - Helping Families Save Their Homes Act

http://www.federalreserve.gov/newsevents/press/bcreg/20091116b.htm

The Federal Reserve Board approved an interim final rule to Regulation Z that requires a notice be given to consumers when their mortgage loan has been sold or transferred.  The new disclosure requirement became effective immediately upon enactment of the Helping Families Save Their Homes Act in May, 2009.  Under that Act, a purchaser or assignee that acquires a mortgage loan must provide the required disclosures in writing within 30 days.

FDIC FIL-74-2009 - Regulation Z - Open End Consumer Credit Changes

http://www.fdic.gov/news/news/financial/2009/fil09074.html

On November 6, 2009, the Credit CARD Technical Corrections Act of 2009 narrowed the scope of application of the Credit CARD Act's requirement that creditors mail or deliver periodic statements at least 21 days before the payment due date to credit card accounts only.  Previously, this requirement applied to all forms of open-end credit, including home equity lines of credit.

What's New

Please visit the following pages of our website to review detailed subject matter regarding new topics for these products:

Human Resources General Policy Template Update Details
Real Estate Loan Policy Template Update Details
Regulation Z Policy Template Update Details

Ordering Information

These products are available to purchase from Bankpolicies.com for:

Secure and Fair Enforcement of Mortgage Licensing Act (SAFE Act) Policy

$150.00 - List Price

Human Resources General Policy Template

$475.00 - List Price
- or -
$100.00* - Update Price

*Applies only to clients who have purchased the Human Resources General Policy Template within the last three years including the following update (if applicable):

Real Estate Loan Policy Template

$475.00 - List Price
- or -
$100.00* - Update Price

*Applies only to clients who have purchased the Real Estate Loan Policy Template within the last three years including the following updates (if applicable):

Regulation Z Policy Template

$375.00 - List Price
- or -
$25.00* - Update Price

*Applies only to clients who have purchased the Regulation Z Policy Template within the last three years including the following updates (if applicable):

 If you have ordered any of these products after 12/11/09 you are eligible to receive that updated product at no charge.

Click here to place an order for any of these products.  Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price of each product (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy.  Orders placed for Product Updates are only available directly through Bankpolicies.com.

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Additional information