TOPIC: Credit Union


With the adopted amendments to Regulation C, referred to by the Consumer Financial Protection Bureau (CFPB) as the “Final Rule.” It brings with it a potential set of new challenges. The Final Rule adds 25 new data elements to the existing LAR data set, modifies, and expands many other existing elements. The lack of certain loan-level information in the current LAR data set has resulted in regulatory and enforcement agencies’ allegations of disparate treatment redlining based primarily on a statistical analysis of a mortgage lender’s application or origination rate in comparison with that of other mortgage lenders that are deemed to be its peers. Do the new data elements in the Final Rule improve fair lending or do they just allow for other areas of fair lending analysis to emerge and therefore present new challenges for mortgage lenders? Let me know what you think!

    True Costs of Processing a Loan File

    We all know that loan files can be costly. Whether it be the cost of working with a vendor or to get a report processed, we know those monetary costs can stack up. But what is the true cost of each loan file? How many hours do you spend inputting customer information or going back and forth with an appraiser? Most importantly, why is spending all that time justified, or are you seeking ways to cut down the true costs of a loan file? 

      Debt Protection - Tax Implications

      VP at a credit_union ($936MUSA)
      Does anyone here report 1099s on benefits received for debt protection? Can you provide the reason and support for reporting or not reporting.  Our vendor is stating that they have no clients that are sending 1099s on benefits received.  However the contract with our vendor puts the burden of reviewing this point on us.  I appreciate any thoughts or feedback you can provide on this subject.    

        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! 

          International Wire Issues

          Question for the community. Does your FI process a decent amount of outbound and inbound foreign wires? If so, I wanted to get a feel for how often you deal with failed payments in the process and if those failed payments are creating customer service issues with your customers and/or taking up a ton of time to resolve. We're hearing SWIFT GPI is trying to resolve this but want to get a feel for how much of a pain point this is today and if it's even worth investing in something like GPI. Thanks! 

            Now available to watch on demand! [FREE] New CBANC Member Benefit: Lendwell

            Check out our new webinar! We discuss how Lendwell is currently helping hundreds of financial institutions and their lending teams save 2 hours per loan file by having a one-stop-shop for all settlement products and how we are able to deliver 20% immediate savings to your settlement costs. We also answer questions in real time and highlight some of our current institutions who use this platform today.


            Please feel free to message me directly to schedule a demo. 

              Free Webinar: CU Best Practices for Credit Analysts

              Register today!

              Current economic conditions seem to suggest that the next U.S economic downturn is on the horizon. With that in mind, it is becoming increasingly important to have the right credit policies and procedures in place to ensure your credit union understands its members throughout the lending process.

              Join this webinar session to learn common best practices for credit analysts when dealing with current and future market conditions.

              Join to Learn:  
              • Best practices for loan and financial statement analysis 
              • How to identify problem loans and the benefits of early detection 
              • Way to optimize deal flow 
              Tuesday, September 10, 2019
              2:00 PM ET / 1:00 PM CT
              Ancin Cooley, Principal with Synergy Credit Union Consulting, Inc.

              Save your seat! 

                5 Things to look for in an Overdraft Service Provider

                Your overdraft service provider can be one of the most important business partners your financial institution employs.

                This document presents critical factors to consider to select an overdraft service provider that can successfully help you:
                • Provide world-class service to your account holders
                • Maximize revenue
                • Manage risk
                • Remain compliant
                Get "5 Things to look for in an Overdraft Service Provider" today!


                  My takeaway from the California Mortgage Bankers Association's inaugural Mortgage Innovators Conference

                  Attending the Mortgage Innovators Conference in San Diego this past week was a very interesting and an eye-opening experience. The conference, sponsored by the California Bankers Association, specifically gave insight on the latest efforts of leading Fintech companies in the mortgage industry to improve the process of making mortgage loans to their consumers. Expert speakers from these companies covered topics from using new software platforms to enhancements in technology that will move the industry into digital mortgages. The overall goal was how to streamline the business processes to reduce cost, increase efficiency, and create a better consumer experience. 

                  One particular hot topic that was highlighted was the increased use and dependency of social media in communicating with their customers and to market the different lending programs to potential borrowers. The emphasis on cell phone friendly applications was key to implementing consumer engagement strategies, account maintenance, service innovations, and new platform designs. 

                  The incorporation of HousingWire to gather leading companies to attend and exhibit at the conference was very valuable since they analyze the most innovative technology companies in the U.S. housing economy. Several companies such as SimpleNexus, Blend, and BeSmartee were among the FinTech companies breaking new ground on making strides to move the processing of loans to a new era. 

                  Bringing together industry leaders, technology decision-makers, and vendors to explore, learn, exchange best-in-class ideas, technology, solutions, and solve real problems was a perfect opportunity for lenders across the country to network with attendees to discuss challenges and opportunities ahead.  

                  What news or emerging tech from this conference are you most interested in?

                    CBANC Network Announces New TRID Compliant Calculator

                    CBANC Network is pleased to announce the integration of LodeStar's fee quoting service into our Lendwell platform. A long-time Lendwell partner, LodeStar helps lenders save time and money by automating the closing cost quoting process. Their TRID complaint quotes are 100% guaranteed for accuracy and include transfer taxes, recording fees, and title costs. Both first mortgages and home equity loans are supported. The new Fee Calculator is now available through your Lendwell platform. LodeStar's online demo can be accessed by clicking on: For more information, contact Joe Walsh ( at 512-583-4576.

                      Is Your Overdraft Program a Black Box?

                      Do you really understand how your overdraft management program calculates overdraft limits? Can you explain the specific factors, trends and overrides that determine the overdraft limit?
                      The answers to these, as well as other key questions, shouldn’t be a mystery. Data flows into your system, the data is processed and your system outputs an overdraft limit. But can you describe exactly what happened during that process to your examiners?
                      If you can, you’ll be equipped to customize your overdraft program to provide superior service to your account holders! If you can’t, then your overdraft program is a black box. 

                      Download our free white paper today! 

                        New CBANC member benefit: CBANC Network announces the acquisition of Lendwell

                        Director at a Company (USA)
                        Pleased to announce a new benefit for the CBANC community.  We've acquired Lendwell, a mortgage settlement services provider used by hundreds of small- and mid-sized FIs. 

                        Our acquisition of Lendwell is the next step in our strategy of unlocking the power of cooperation and the collective purchasing power of thousands of financial institutions within the CBANC Network. The Lendwell platform will help our network members reduce the cost of lending operations while improving their ability to serve their customers.

                        FIs can expect to save up to two hours of time per mortgage file and 15-20% on services like AVMs, property assessments, flood certifications and many others. Best of all, there's no up front fee for CBANC members, and it'll take about half an hour to get up and running with Lendwell.

                          Learn more and start the sign-up process at

                                                                                                                                                Originally Posted by Mike Snavely, Chief Commercial Officer of CBANC, on 30 Apr 2019 to CBANC FI Professionals Community.

                          FCRA and Cross-selling

                          Person at a credit_union ($1.5BUSA)

                          Generally speaking under FCRA cross-selling is not considered a permissible purpose.
                          However, "in accordance with the written instructions of the consumer who it relates" is a permissible purpose under FCRA.

                          We are looking to build this written authorization into our membership application so we can cross-sell at account opening and also into our loan application so we can cross-sell other loans when a consumer applies for a loan.

                          Is anyone currently doing this?

                          Is anyone willing to share a copy of their membership application or loan application or the verbiage they use on these applications?

                          Any thoughts, comments, feedback, experiences, etc. are welcome.

                          Thanks in advance!