Guidance covers "reconsiderations of value" for real estate lending

NEWS:  The NCUA and other federal regulators have issued final guidance on “reconsiderations of value” (ROVs) in residential real estate lending. 

When credit unions identify deficiencies in appraisal and valuation reports – either through their own review process or through information that a consumer has provided – it can call into question the report’s credibility. ROVs are requests from a lender to an appraiser (or other preparer of a valuation report) to reassess residential real estate’s value.

CFPB proposes new mortgage servicing rules

NEWS:  The Consumer Financial Protection Bureau (CFPB) has proposed changes that would rewrite its 2013 mortgage servicing rules. The amendments would simplify the “loss mitigation” process and give borrowers additional protections to help them avoid foreclosure. 

In releasing the proposal, the CFPB wrote: “In general, the proposed rule would streamline existing loss mitigation requirements to provide borrowers with quicker loss mitigation solutions, add foreclosure procedural safeguards that begin as soon as a borrower requests loss mitigation assistance, revise certain early intervention requirements, and provide borrowers with access to certain mortgage servicing communication in languages other than English. The proposed rule also requests comment on various servicing issues, including comment on servicer furnishing practices for consumer reporting.”

NCUA & other regulators finalize AVM rule

Husch Blackwell HR Q&A - FAQs about political speech and related workplace issues

Q&A:  This is part of a 2024 series of HR questions and answers, prepared by Melissa Caulum Williams, Senior Counsel at the Husch Blackwell law firm. 

If you have questions about this topic, or any matters related to employment law, The League’s free HR Legal Line can help. The League arranges to have Husch Blackwell attorneys provide up to an hour to address a credit union’s employment questions. You can find more information about the service via this Compliance Courier.
 
This month, Melissa covers several FAQs about political speech and related workplace issues. She wrote, “With the RNC coming to Wisconsin this month, the DNC in Chicago next month, and the November election right around the corner, we thought it would be helpful to provide credit unions with some guidance regarding political speech at work.”