FinCEN Annual Report; Valuation Code
I'm not sure if this is good or bad, but there just seems to be a bunch of different things to write about. I hope you don't mind this mish-mash of information which has become the trend as of late...
- Yesterday, FinCEN issued its annual report for 2008. Access it here. If you need to do board or staff training, this document does a good job of giving you the history of FinCEN, basic information and definitions for the filings, and a broad overview of what happened this year at that Agency.
- Last week, Fannie Mae and Freddie Mac reached a new valuation agreement with New York Attorney General Andrew Cuomo. Here's a NAFCU Today article that details the changes. Effective date? The new rules will be effective for single-family mortgage loans (except government-insured loans) that are originated on or after May 1, 2009. Here's a link to the new code provided on Fannie Mae's website. Look for more guidance in the next week or so.