TOPIC: New Requirements

Notice of Right to Forbearance

Employee at a credit_union ($857MUSA)
Hello Everyone

Oregon recently enacted some new rules surrounding right to forbearance and we are required to notify all loan accounts of these rights. I was wondering if anyone one else did a similar notification and if so, can you share the letter you sent to borrowers? 

    ESign / Electronic Signature /eVault for Implementation of System of "Control" vendors

    CTO at a bank ($855MUSA)
    Hello, we are working on a large project to get as many docs (loan, deposit, commercial, and many others) from paper signatures to eSignature.  We have done much research on the rules/regs and specifically we are advised by the legal experts that this will work as long as we are compliant also with "Control" of the transferrable record.  So we are looking at how best and who to use for the implementation of system of "control".  Other FI's have implemented eVaulting to provide a secure chain of custody for the electronic records and use TOLEC (Transfer of Location of Electronic Contracts) software.  So two of the companies that have been recommended for the eVault piece are SPeRS (Standards & Procedures for Electronic Records & Signatures) and/or ESRA (Electronic Signature and Records Association) to implement electronic, signature, disclosure and eVaulting solutions to deal with the "Best Evidence" concern.  

    My question is has anyone worked with an eVault company like SPeRS or ESRA and if so, what do you recommend as the best option for this piece of the requirement for eVaulting?I am not familiar with either of these companies so wanted to see if anyone had any information you could provide and/or recommend if you have already been through and established this process.  

    Thanks in advance!

      Free Coronavirus Resource Page

      We know that regulatory obligations create unique challenges in the face of unprecedented times like this. We're here to help you sort through it all and stay on top of the rapid changes. Our coronavirus resource page provides up-to-date information and free resources designed to help financial institutions like yours.

      Visit the page to access free articles, blogs, webinars, and whitepapers that specifically address the issues and challenges you're facing right now with the coronavirus pandemic.

      Coronavirus Resource Page

        CECL, Portfolio Risk, Credit and Lending Conference | ThinkBIG | September 24 - 26, Orlando, Florida

        There are only four days left until registration ends for the biggest CECL, portfolio risk, and lending and credit conference of the year - ThinkBIG!

        When: September 24-26
        Where: Loews Sapphire Falls Resort at Universal Orlando | Orlando, FL
        Who: Anyone involved in CECL/ALLL, portfolio risk, or credit and lending. Common titles include CFO, Controller, VP of Finance, Credit Analyst, CCO, CRO, Credit Admin and Loan Admin.

        Are you managing risk and driving growth at your financial institution? Do you need ideas to think bigger about portfolio risk, CECL, or lending and credit? The ThinkBIG Conference presented by Abrigo was created to give you the educational tools and concrete ideas to Manage Risk. Drive Growth.  

        Hear from FASB's Hal Schroeder, FINCURA's Max Blumenthal, Q6 Cyber's Eli Dominitz, economist Tom Cunningham, PhD, and a full roster of Abrigo's industry experts at this year's conference. 

        Be prepared to Think Bigger with insights and information critical to your lending strategies, mitigating credit risk, and the transition to and implementation of the new allowance accounting standard over the course of three days of compelling educational content and networking.  

        If you have responsibilities related to CECL and the ALLL at your institution, or if you want to know more about how CECL will impact your institution or you want to grow your loan portfolio quicker and more efficiently while driving profitability, this is the one conference this year you cannot afford to miss.

        Earn up to 14 CPEs! 
        Register today and save! 

          Answers to Your Top 5 FAQs about the New HMDA Rule -- Free Webinar :)

          We're calling it a webinar, but it's more like a conversation. In this 30-minute session, we'll answer the top 5 questions we're getting about the new HMDA rule.

          Register for free here:

          You'll learn the difference between LEI and ULI, how you get them, what you need to know about GMI data, what happens if you make a mistake, and (much) more! Plus, you'll get access to free resources, including a sample HMDA data collection form and slides from the webinar that you can share internally.