In today’s banking environment as soon as one big new regulation is implemented another pops up. ICBA’s compliance training opportunities and exceptional resources, online and offline, will help your community bank stay informed and one step ahead of the regulators.
(1) In general if a servicer determines that a mortgage did not meet the requirements for termination or cancellation of private mortgage insurance under subsection (a) or (b) of section 4902 of this title, the servicer shall provide written notice to the mortgagor of the grounds relied on to make the determination (including the results of any appraisal used to make the determination).
(2) Timing Notice required by paragraph (1) above shall be provided -
(A) With respect to cancellation of private mortgage insurance under section 4902(a) of this title, not later than 30 days after the later of—
(i) the date on which a request is received under section 4902(a)(1) of this title; or
(ii) the date on which the mortgagor satisfies any evidence and certification requirements under section 4902(a)(3)  of this title; and
(B) with respect to termination of private mortgage insurance under section 4902(b) of this title, not later than 30 days after the scheduled termination date.
Reference: Homeowners Protection Act: 12 USC 4904(b)
The ICBA Compliance Vault is now available as a member benefit to all ICBA members.
The Compliance Vault is a reliable search tool that helps you find answers to your regulatory compliance questions, with access to over 2,500 Q&As, select online courses, and documents.
Community Banker University offers a variety of online training options with courses that build knowledge and a strong foundation within key areas of the banking industry and professional development.
The courses in the Community Banker Compliance Certificate Program are designed to give community bankers the knowledge and skills they need to become experts in regulatory compliance. The certificate program consists of four critical learning areas.
One of the three elements of an effective compliance program is monitoring and corrective action. These compliance working papers are essential for monitoring your financial institution’s compliance with federal consumer compliance laws and regulations.
ICBA Member: $599
Annual Digital Renewal
ICBA Member: $299
The ICBA Compliance Deskbook is the industry’s premier resource for compliance information. Access regulations, important dates, agency guidance, questionnaires, and other resources in one place.
ICBA Member: $399
Annual Digital Renewal
ICBA Member: $249
The Bank Compliance Checkup Program provides a comprehensive system for on-going monitoring of your bank’s compliance with Deposit, Lending, Administrative and IT/Tech/Security regulations.