AGMB Alerts
AGMB Alert – Cybersecurity
On September 22, 2016 AGMB issued an Alert about new cybersecurity regulations proposed by the New York Department of Financial Services (NYDFS) which aimed to protect consumers and financial institutions from cyber-attacks by requiring banks, insurance companies, and other financial services institutions regulated by the New York State Department of Financial Services (collectively “financial service…
NYDFS Proposed Cybersecurity Regulation
On Tuesday, September 13, 2016, Governor Cuomo proposed a new regulation that (if enacted) will have a substantial effect on mortgage lenders, brokers and others regulated by the Department of Financial Services. The proposed rule aims to protect consumers and financial institutions from cyber-attacks by requiring banks, insurance companies, and other financial services institutions regulated…
Implementation of FHA’s revised HUD Form 92900-A (Addendum to the Uniform Residential Loan Application)
In accordance with HUD’s Single Family Housing Policy Handbook 4000.1 II.A.1.i.(B) (the “Handbook”) and Mortgagee Letter 2016-06, FHA Mortgagees must use the updated HUD Form 92900-A (the “Form”) for all loan applications with case numbers assigned on or after August 1, 2016. The updated Form includes several revisions to loan-level certifications. While a number of…