• GSEs to loosen lending standards

    At the recent Mortgage Bankers Association annual convention, Federal Housing Finance Agency (FHFA) Director Met Watt and US Secretary of Housing and Urban Development (HUD) Julian Castro announced a relaxation of lending standards for Government-Sponsored Enterprise (GSEs).
  • OCC: You can’t outsource responsibility

    The Office of the Comptroller of the Currency (OCC) recently updated its risk-management guidelines for third-party relationships, and the new guidelines give banks more responsibility than ever. According to the new guidelines, financial institutions have many of the same responsibilities for managing risk from vendors as they do from their own operations.
  • Tips for owning your next A-133 audit

    If your institution expends more than $500,000 (increasing to $750,000 come December 26, 2014), in general funds of awards per year, you must submit to a single audit, more commonly known as the OMB Circular A-133 Audit on an annual basis. Many view the A-133 audit as a “necessary evil” – something that has to be done in order for your institution to receive the research funding. In this article we outline tips for taking back control of your next A-133 audit.”