Federal Compliance Checklist
Essential federal requirements for all transactions - stay compliant and avoid penalties.
Compliance Progress
0 of 21 requirements completed
Loan Estimate Delivery
Provide Loan Estimate within 3 business days of receiving complete application
Closing Disclosure Timing
Deliver Closing Disclosure at least 3 business days before consummation
Fee Tolerance Compliance
Ensure disclosed fees are within tolerance thresholds (0% for lender fees, 10% cumulative for third-party)
Changed Circumstances Documentation
Document and redisclose within 3 business days when changed circumstances occur
LAR Data Collection
Collect all required Loan Application Register data points for covered loans
Quarterly Reporting
Submit quarterly HMDA data by required deadlines
Annual Reporting
Submit annual HMDA data by March 1st
ECOA Compliance
Ensure Equal Credit Opportunity Act compliance in all lending decisions
Fair Housing Act Compliance
Maintain Fair Housing Act compliance in marketing and lending practices
Adverse Action Notices
Provide timely adverse action notices with specific reasons
Community Reinvestment Assessment
Conduct periodic assessment of community credit needs
CRA Data Collection
Maintain records of community development activities and lending
MLO Registration/Licensing
Ensure all mortgage loan originators are properly registered/licensed
Continuing Education
Complete required continuing education for MLOs
Customer Identification Program
Implement and maintain Customer Identification Program (CIP)
Suspicious Activity Reporting
File SARs within required timeframes for suspicious activities
Currency Transaction Reports
File CTRs for transactions over $10,000
Ability-to-Repay Verification
Verify borrower ability to repay for all covered transactions
Qualified Mortgage Standards
Ensure loans meet QM standards when applicable
Flood Determination
Obtain flood determination for all properties securing loans
Flood Insurance Requirements
Require flood insurance when property is in flood zone
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Compliance Best Practices
High Priority Items
Focus on TRID timing, fair lending compliance, and MLO licensing first. These carry the highest regulatory scrutiny and penalties.
Regular Reviews
Schedule monthly compliance reviews and quarterly updates. Regulations change frequently and require ongoing attention.
Team Training
Ensure all team members understand their compliance responsibilities. Regular training prevents costly violations.
Documentation
Maintain detailed records of all compliance activities. Proper documentation is your best defense in examinations.