HDMA
Flood
TRID
Truth In Lending
Miscellaneous
100
This is the name of the implementing regulation for HMDA. and requires reporting for dwelling secured transactions on an annual basis
What is Reg C
100
The is the name of the implementing regulation for flood
What is Reg H
100
This disclosure needs to be provided to the customer at least three business days after receipt of a consumer, real-estate secured loan application
What is the loan estimate
100
What is the name of the implementing regulation of Truth In Lending
What is Reg Z
100
All flood zones files need to be sent to this person within Cache Valley Bank
Who is Jana Casey
200
These are the three categories of loan transactions for which we report HMDA
What is a Home Purchase, Home Refinance, or Home Improvement loan
200
This disclosure must be sent to the customer and signed by them as soon as it is discovered that the collateral securing a loan is found to be in a flood zone
What is the flood certification disclosure (Pt 2)
200
This is the date that the loan estimate would be considered received If a customer applies for a consumer, real estated secured loan, on a Thursday and the disclosure is mailed on a Friday
What is Wednesday
200
This is the earliest date that a loan can fund if the customer who has the right to rescind closes on a Friday
What is Wednesday. Customer closes on Friday. Saturday is the first business day. Monday is the second business day. Tuesday is the third business day. Fund on Wednesday
200
This regulation requires that within 30 days of application, we approve, deny, or memo the file as why it took longer than 30 days to decision a loan
What is Reg B (ECOA)
300
Starting in 2017 the required data collected and reported on this form will go from 27 fields to 52 fields. The due date for this report is March 1, of every year.
What is the HMDA LAR
300
This is the amount of the fine levied by the regulator per file for flood violations with no maximum amount
What is $2000
300
This is the earliest date that a loan could close if the closing disclosure is mailed on a Thursday.
What is Thursday
300
This is the latest date that HELOC disclosures must be sent if the bank receives a HELOC application on a Friday.
What is Wednesday - Saturday is not a business day for this disclosure. Monday is day one. Tuesday is day Two. Wednesday is day three.
300
Under BSA, it is required that we document this when someone applies for a loan or deposit product at Cache Valley Bank
What is CIP
400
This is the order of importance for reporting HMDA LAR transactions
What is a Home Purchase, Home Improvement, and Home Refinance
400
The lesser amount of these three items determines the minimum flood insurance coverage required on a structure securing a loan in a flood zone
What is the amount of the loan, replacement cost of the structure, or $250,000 (consumer) or $500,000 (commercial)
400
If the customer is not given the option to shop around for these fees they must be disclosed 100% correctly on both the loan estimate and the closing disclosure
What is a zero tolerance fee
400
These disclosures must be given at Idaho First Bank when a customer applies for a student loan?
What is an Adverse Action. We do not offer student loans at Idaho First Bank
400
The method of delivery for this disclosure affects when you can close a consumer purpose, real estate secured loan
What is closing disclosure?
500
This is the daily penalty amount for FIRREA violations
What is $7500 per day
500
These are the only two acceptable forms of proof of insurance required prior to closing on a loan that is secured by a structure located in a flood zone
What is an issued flood policy (Declarations Policy) or an application for flood insurance with proof of payment dated as of the closing date or earlier.
500
When referring to initial and closing disclosures, this is the difference between a "general business day" and a "Specific business day".
What is Saturday. Loan estimates must be delivered or placed in the mail within 3 business days of application. (You don't count Saturday as a business day for the loan estimate) The closing disclosure must be delivered three business days prior to close. If it is delivered in person, you may close 3 business days later. (You do count Saturday as a business day for the closing disclosure) If it is mailed, it is received three business days later, and then you can close 3 business days after that.
500
There is no restitution for these two types of Reg Z violations, even if you pay off the loan and do it over
What are rescission and 3 day disclosure violations
500
If credit is pulled in connection with a loan application that is subsequently denied, these four pieces of credit information must be reported on the adverse action
What is the credit score, range of credit scores, and the key factors in the decision and credit reporting agency