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AllRegs Advisor, April 2011
Marissa AquilaAllRegs Compliance Commentary: Loan Originator Compensation Rules Now in Effect – Federal Reserve Board and HUD Provide Clarification
by Marissa Aquila Blundell
The Federal Reserve Board’s new rules governing originator compensation are now in effect. After a five day court-imposed administrative delay, the United States Court of Appeals denied a request to further delay implementation of the rule. In March, the industry received additional guidance related to the new loan originator compensation rules effective April 6, 2011. Attorneys for the Federal Reserve Board of Governors held an online webinar on Thursday, March 17, 2011, and on Friday, March 18, 2011, HUD released a newsletter addressing GFE related-questions that have arisen as new compensation structures form... Read full article »
Anna DeSimoneAllRegs Compliance Commentary: Fannie Mae Clarifies Loan to Value Ratios in the Selling Guide
by Anna DeSimone
On March 31, 2011, Fannie Mae updated the Selling Guide to clarify policy changes made regarding the calculations of ratios. The Selling Guide contains a number of references to the calculation of LTV, CLTV, and HCLTV ratios and the vast majority of these references indicated that ratio calculations were to be based on the "loan amount." However, in other instances, the Guide referenced "unpaid principal balance" to be used in calculations. Fannie Mae has updated the Guide in an effort to provide consistency and clarity within the Guide and to match Fannie Mae's current loan delivery requirements... Read full article »
Marissa AquilaAllRegs Compliance Commentary: Additional Truth in Lending Act Change Effective April 1, 2011 for Jumbo Mortgages
by Marissa Aquila Blundell
The Federal Reserve Board recently amended TILA to provide a separate, higher rate threshold for determining whether a “jumbo” loan is subject to the same escrow requirements as non-jumbo Higher Priced Mortgage Loans (HPMLs). Effective April 1, 2011, if a jumbo loan’s APR exceeds the average prime offer rate (APOR) by 2.5 or more percentage points on the date the interest rate is set, then TILA requires the establishment of an escrow account for the payment of property taxes and any creditor-required premium for mortgage-related insurance, prior to consummation... Read full article »
To view recent AllRegs articles, visit the AllRegs Article Archive »
AllRegs Advisor, April 2011

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FICO Pro!Congratulations to the new FICO Pro Certification Designees!
AllRegs is proud to announce that five professionals have recently earned the Certified FICO® Professional (FICO Pro) designation. The program is designed to recognize individuals who have a strong understanding of FICO® scores and how the FICO® score impacts both the lender and the consumer. Congratulations to the following industry professionals for their hard work and commitment to earning the FICO Pro designation:

  • Dean Allen, San Diego, CA
  • Ashlee Gage, Taos, NM
  • Diane Mark, Pittsford, NY
  • John Roby, Destin, FL
  • Debbie Tendrup, Superior, WI
Click here to learn how you can achieve the FICO Pro designation »

Residential Government UnderwriterAllRegs Academy Congratulates Five New Residential Government Underwriter Certification Designees!
Five professionals have recently earned AllRegs Academy's Residential Government Underwriter (RGU) certification. Congratulations to the following industry professionals for their hard work and commitment to earning the RGU:

  • Stephen Beasley, Washington, D.C.
  • Mary Helms, Rockville, MD
  • Stephen Ruggiero, Mentor, OH
  • Ginger Steltzer, Corpus Christi, TX
  • Sandra Hunt-Theis, Rolling Meadows, IL
Click here to learn how you can achieve the RGU designation »

Just Released: New Policy and Procedure Manual!
Loan Origiantor Compensation ManualLoan Originator Compensation Policy Manual
Last year, the Federal Reserve Board’s Final Rule was issued, amending Regulation Z of the Truth-in-Lending Act (TILA), and affects loan origination compensation. The Loan Originator and Anti-Steering Rules took effect on April 1, 2011. Are you ready to comply? Do you have your compensation policies in place? Don’t worry – we can help.

There are three sections included in this manual:

  • General Principles for Compliance
  • Loan Steering
  • Sample Client’s Compensation Agreement Terms

Click here to learn more » Purchase Now »

More New Courses Added! Individual Continuing Education Courses
Meet your Federal and State continuing education requirements with NMLS approved online courses from AllRegs Academy. Register for just the courses you need to individually meet your SAFE Act CE requirements. Choose from 7 and 8 hour Federal SAFE Act courses and then choose from a variety of state-approved CE courses to meet your needs. With approvals in most states, districts and territories across the country, we have the individual courses you need to stay licensed and compliant…and your credit banking fees are included with your registration!

Looking for a Site-Based Continuing Education solution?
AllRegs' Site-Based Continuing Education Library is your solution for meeting federal and state SAFE Act continuing education licensing requirements. With AllRegs Academy’s subscription-based online CE training program, you’ll not only get NMLS-approved courses that meet the federal and state SAFE CE requirements, you and everyone at your branch will get them for one low annual price.
Click here to subscribe today »

Hotel Location Announced for Upcoming June Classroom Courses!
The upcoming School of Mortgage Compliance and School of Residential Underwriting classroom courses will be held at the Embassy Suites - Philadelphia Airport in Philadelphia, PA.
Reserve your seat today!

School of Mortgage Compliance
June 6-9, 2011
Click here to register »		 School of Residential Underwriting
June 6-9, 2011
Click here to register »

AllRegs Complimentary TrainingComplimentary AllRegs Product Training!
Have questions about AllRegs Online? Would you like to learn more about Market Clarity? Or, maybe you would like more information on how to access your AllRegs Academy subscription courses? To help you learn more about our products, we are offering complimentary online training. Sign up today - it's free!
Click here to learn more »

AllRegs Audio CourseNew Course Topics!
Want to stay current with the industry’s hottest topics without leaving the office? AllRegs Academy has a convenient and affordable solution. Our Audio Courses are an affordable, convenient and timely way to get up to speed on the latest mortgage industry trends. Registration fees are only $250 per registration, with one call-in line. You can listen from your desk or with your team in a conference room with a speakerphone.

AllRegs Academy is proud to offer the following programs, featuring skilled industry experts:

Anti-Money Laundering
Wednesday, May 4, 2011 | 2:00 p.m. – 3:30 p.m. ET
Course Instructors: David B. Hannuksela, Thomas Maddox, Tim Schultz
Click here to register »
New Courses Added to AllRegs Education Package!
The foundation of a successful company is based on its investment in knowledge and professional development. The AllRegs Education Package site-based subscription program offers more than 50 self-study online courses and 15+ recorded audio courses.

New self-study courses:

New audio course recordings:

Click here for more information on the AllRegs Education Package »
See the full list of courses included in the AllRegs Education Package »

Subscribe Now

Mortgage Lending Achievement CertificateDid you know that YOU can earn industry recognition with AllRegs? You can, with our Mortgage Lending Achievement Certificate!
When you complete five AllRegs Education Package courses, you’ll be qualified to earn the AllRegs Academy Mortgage Lending Achievement Certificate. Enrollment in the program is free for all AllRegs Education Package subscribers. Click here to learn more »
AllRegs Market ClarityGet Side-By-Side Product Comparisons with AllRegs Market Clarity™
AllRegs Market Clarity™ is a loan product analytical tool that compares 44 key loan product attributes of over 2,100 products for 60 different investors. A dream come true for upstream investors and correspondent lenders, AllRegs Market Clarity™ helps users manage risk and identify market opportunity while providing them with the tools to establish and maintain a competitive edge, all on one interactive web site. Read more about Market Clarity »
Or click here to request a demonstration!
Compliance Resources Origination Resources Underwriting Resources
Only interested in the topic of Compliance? View all that AllRegs has to offer in the area of Compliance »
School of Mortgage Compliance Regulatory compliance is a key component to the success of a mortgage lending company. Laws change at a rapid pace. To stay compliant, you have to stay abreast of new regulatory developments and follow industry best practices.
Learn More »

State Compliance Package When auditing a file, you must consider a variety of topics and areas of concern. With more than 100 different state compliance topics, State Compliance allows you to quickly compare compliance information across multiple states. Learn More »
Report Builder Need to keep an eye on lots of states? Give your State Compliance solution even more power. Keeping track of all the licensing requirements from state to state just became easier.
Learn More »
Only interested in the topic of Origination? View all that AllRegs has to offer in the area of Origination »
Signature Authority Policy Manual Do you need a policy plan to address who can sign what, when and why, with a means to keep track of it all? We have your solution. This manual is a comprehensive, turnkey template that defines roles and responsibilities for all levels from the executive office on down.
Learn More »
Continuing Education Library
 For $600 per site, you and your co-workers at your site will get all current approved CE courses, in most states, districts and territories across the country, as well as those that are released during the 12 month subscription.
Learn More »
LoanLibrary is an online tool which provides the latest product guideline information needed to underwrite or originate a loan file. In one convenient and easy-to-use interface, you can have product matrices, credit information, property guidelines and more.
Learn More »
Only interested in the topic of Underwriting? View all that AllRegs has to offer in the area of Underwriting »

Single-Family Lending Package AllRegs’ flagship product is a comprehensive online database consisting of thousands of pages of government and conventional single-family lending guidelines and forms. Accurately maintained and easily accessible with a variety of easy-to-use features, you’re assured of fast, reliable answers as well as the right forms when you need them. Learn More »
Customized FHA Training
at Customer Location
That's right. We'll deliver FHA training that's designed just for your team, on location at your site. AllRegs Academy can work with you.
Learn More »
Mortgage Underwriting Policy and Procedure Manual This manual is a complete, 105-page, customizable template that includes sections on both Conventional and Government Loans. Use this manual for your employees or external customers. Learn More »
AllRegs Event Calendar
May 2011
Fundamentals of FHA Origination
Instructor-Led Online Course
May 3, 10, 17 and 24, 2011
Register Now!
Fundamentals of FHA Underwriting
Instructor-Led Online Course
May 3, 10, 17 and 24, 2011
Register Now!
Advanced FHA Underwriting
Instructor-Led Online Course
May 4, 11, 18 and 25, 2011
Register Now!
Anti-Money Laundering
Audio Course
May 4, 11, 18 and 25, 2011
Register Now!
Loss Mitigation
Instructor-Led Online Course
May 5, 12, 19 and 26, 2011
Register Now!
20 Hour SAFE Comprehensive Mortgage Loan Originator Course
(NMLS Course Number: 1633)
Instructor-Led Online Course
May 9, 10, 11, 12 and 13, 2011
Register Now!
 
June 2011
School of Mortgage Compliance
Instructor-Led Online Course
June 6-9, 2011
Register Now!
School of Residential Underwriting
Instructor-Led Online Course
June 6-9, 2011
Register Now!
20 Hour SAFE Comprehensive Mortgage Loan Originator Course
(NMLS Course Number: 1633)
Instructor-Led Online Course
June 6, 7, 8, 9 and 10, 2011
Register Now!
Analysis of Self-Employed Borrowers
Instructor-Led Online Course
June 7, 14, 21 and 28, 2011
Register Now!
Fundamentals of FHA Underwriting
Instructor-Led Online Course
June 7, 14, 21 and 28, 2011
Register Now!
Advanced FHA Underwriting
Instructor-Led Online Course
June 8, 15, 22 and 29, 2011
Register Now!
 
June 2011 continued
Collateral Analysis: Reviewing Appraisals
Instructor-Led Online Course
June 8, 15, 22 and 29, 2011
Register Now!
Servicing FHA Loans
Instructor-Led Online Course
June 9, 16, 23 and 30, 2011
Register Now!
July 2011
Fundamentals of FHA Origination
Instructor-Led Online Course
July 5, 12, 19 and 26, 2011
Register Now!
Fundamentals of FHA Underwriting
Instructor-Led Online Course
July 5, 12, 19 and 26, 2011
Register Now!
Advanced FHA Underwriting
Instructor-Led Online Course
July 6, 13, 20 and 27, 2011
Register Now!
20 Hour SAFE Comprehensive Mortgage Loan Originator Course
(NMLS Course Number: 1633)
Instructor-Led Online Course
July 11, 12, 13, 14 and 15, 2011
Register Now!
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