This month’s WBA Compliance Journal is another edition packed full of timely compliance-related information, including a summary of an important Wisconsin Court of Appeals case which confirmed that UCC safe-harbor notice requirements are not to be altered by a WCA deficiency judgment provision. WBA was involved in the matter as an amicus curie on behalf of the industry.
In the Compliance Notes section, readers will find information about an interagency FAQ regarding SAR requirements and a reminder that lenders may continue to make loans that are subject to the federal flood insurance statutes when the NFIP is not available so long as lenders continue to make flood determinations; provide timely, complete, and accurate notices to borrowers; and comply with all other applicable parts of the flood insurance regulations.
