Feeling Regulated
“ALIENS” refers to the 6 items that constitute this
What is a complete applciation
Don’t hog the storage! All temporary documents should be saved here.
What is the C Drive
Wondering if your LE was done correctly, this guy can answer all your questions
Show me the money!...or that you can pay it back
What is ATR (Ability to Repay)
The first rule of Fight Club is…
What is:
This act forces lenders to approve based on your financial history, not your race, color or gender
What is Equal Credit Opportunity Act (ECOA)
This 1st DOT loan isn’t closing on Friday if the valuation wasn’t hand delivered by what day?
What is hand deliver the CD
My HELOC extension has no balance, I better email this team to hold the DOT
Who is Collateral Perfection
Branch staff better get these in before they close the loan
What are BOIs (Branch Outstanding Items)
My mama always said…
What is:
If you are in this flood zone, lenders better send you a flood notification
What is "A"
Oh no, there's a tolerance cure! Processors should include the amount and what information for approval?
What is the cause of the tolerance
This person’s favorite color clothes are black
PFIA isn’t your old college fraternity, instead this stands for what?
What is Personal Financial Income Analysis
If you build it…
What is:
TRID falls under is under this regulation
What is Regulation Z
In the HPML process, this APR fee is the first one we reduce
What is the Origination fee
This person has zip lining on their bucket list
Who is Richella
This can be our quality control teams or a valuation validation
What is PCR (PreClose Review/Property Condition Report)
Houston...
What is:
The first person to discover this error is responsible for citing it
What is a VOL
This department is a centralized team tasked with compliance of the Bank Secrecy Act and USA PATRIOT Act regulations
Who is AML, Anti-Money Laundering
These 4 letters require lenders to know if you are using the loan to buy a hot tub or purchasing a new home
What is HMDA
I’m going to bed before either of you come up with another clever idea to get us killed…
What is: