Don’t wait. Prepare for October 1 Changes to Reg. C

October 1 marks a significant change to the reportable rate spread requirements under Regulation C. The change reduces the rate spread reporting threshold for “higher-priced” mortgages and is intended to improve the accuracy and usefulness of data reported under HMDA. The new calculation is based on different data points and new base rate tables with a new publication frequency. That means new processes, new policies, a new threshold – and more collection requirements. Before the October 1 deadline prepare with consulting services and technology solutions from PCi.

Click here to download a copy of The Q and A on Reg. C from one of our CRA experts.

Ramp up Now. Don’t Delay.

PCi can help you prepare for the October 1 deadline.

Our technology solution, CRA Wiz®, will help you:

• Capture the data needed for comparison to the APOR table.
• Capture the weekly rate tables.
• Calculate the new rate spread.

Our consultants will help you:

• Update your CRA Wiz import format to capture the new requirements.
• Update policies and procedures related to: determining which loans are affected, defining comparable transactions, and identifying appropriate comparison indices.
• Train staff members on how the threshold will be calculated.

Before Taking Loan Applications on October 1 Call PCi

We'll help you understand the requirements, develop your policies, train your staff, and implement the software solutions you need for a strong Reg. C compliance program. Click here to download a copy of The Q and A on Reg. C from one of our senior consultants. While there is still time, let us help formulate your readiness response plan. Call PCi at 1-800-261-3111 or click here for more information.