* WASHINGTON (4/2/10)--The Office of Thrift Supervision (OTS) Wednesday offered tips to consumers regarding the Real Estate Settlement Procedures Act (RESPA) in the brochure, “What to Expect When You Apply for a Mortgage Loan.”
The brochure discusses how credit scores impact getting a mortgage, new mortgage loan disclosures, the new Good Faith Estimate, and the mortgage loan application process. New RESPA rules took effect Jan. 1 ... * WASHINGTON (4/2/10)--Federal Reserve Board Gov. Elizabeth Duke said she expects bank lending to improve by year-end despite challenges and failures in the financial industry. Duke made the comment at a banking conference in Arizona Wednesday (American Banker
April 1). While the nation’s community banks are sound, some firms are under stress from problem loans, particularly in commercial real estate, Duke said ... * WASHINGTON (4/2/10)--State regulators are encouraging Senate Banking Committee Chairman Christopher Dodd (D-Conn.) to revise a provision in his regulatory reform bill that they claim would force large state banks to convert to national charters. The conversions, they argue, would prevent eight states from receiving the funding they need to oversee banks under their jurisdictions. The state banking departments also would have to make up the difference by charging more fees to smaller banks, said Richard Neiman, New York State Superintendent of Banks (American Banker
April 1). Exam fees also are expected to rise, the Banker
said. Under Dodd’s bill, all state-chartered banks would be regulated by the Federal Deposit Insurance Corp (FDIC). The Federal Reserve Board would oversee holding companies with more than $50 billion in assets. Roughly 15 state-chartered banks belong to companies with that asset size and could end up with three regulators--the Fed, FDIC and the state ...