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New RESPA Requirements for 2010

Beginning in January 2010, there will be new rules that will require new forms and explanation booklets. We will have the new items available. The Residential Loan Application, Good Faith Estimate of Settlement Costs and the Explanation of Settlement Costs Booklet can be ordered by contacting your sales representative at 815-725-0633 or

Funds Availability Policy – 2nd Business Day Signage

In accordance with Federal Regulation CC, here are two signs that inform your customer of the policy regarding their rights to draw funds against deposits they have made to any transaction account at your institution. The Funds Availability Policy sign reads:

“Our general policy is to allow you to withdraw funds deposited in your account on the second business day after the day we receive your deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the second business day. Then, the funds will generally be available by the fifth business day after the day of the deposit.”

Funds Availability Policy Signage

You can also contact your IFS sales representative for more information at 815-725-0633, or