Mortgage Bankers Association (MBA) – 2018 Legal Issues and Regulatory Compliance Conference
On Monday, April 30, 2018, at the MBA Legal Issues and Regulatory Compliance Conference in Los Angeles, California, Karen Cullen, director in CrossCheck’s compliance and fair & responsible lending practices was on a panel entitled Controlling the Narrative: Using Internal Data for Better Market Penetration.
Florida Bankers Association (FBA) – 2018 Consumer Compliance Seminar
Mollie Sudhoff, a manager in CrossCheck’s regulatory compliance and internal audit practices moderated three sessions at the 33rd Annual Consumer Compliance Seminar, April 11-13, 2018 in Orlando, Florida. The first session was the Regulator Panel: Current Examination & Enforcement Focus, Findings & Expectations”. The second was the “Florida Attorney Panel Potpourri: ADA, Collections, Florida TCPA, Litigation Update”. The third was a “Compliance Officer Discussion Panel”.
Staffing Up for CMS
In her “Staffing Up for CMS” article from the March/April 2018 issue of ABA Bank Compliance (now ABA Risk and Compliance), Liza Warner highlights the necessity for financial institutions to evolve their compliance teams to strengthen their Compliance Management System (CMS). Warner outlines the “three lines of defense” model—business lines, risk and compliance, and internal audit—emphasizing the importance of clear roles. She also stresses the need for ongoing training, management support, and a collaborative culture to enhance compliance effectiveness and build trust with customers and regulators.
Wisconsin Bankers Association (WBA) – 2018 Residential Lending School
Heidi Wier, managing director, taught compliance for residential mortgage lenders at the WBA’s Mortgage Lending School on February 20, 2018. The topics she covered included ECOA (Regulation B), TILA/RESPA (Regulation Z), Ability to Repay and Qualified Mortgages, Fair Lending, HMDA (Regulation C) and the SAFE Act. Students gained the knowledge they need to be successful in this complex and highly competitive field.
Avoiding Surprises – Servicing Quality Assurance and Quality Control Monitoring Systems can be Management’s Best Friend
‘In the February 2018 issue of Mortgage Compliance Magazine, Bill Tyner and Jim Shankle highlight the importance of internal Quality Assurance (QA) and Quality Control (QC) systems in loan servicing in their article “Avoiding Surprises – Servicing Quality Assurance and Quality Control Monitoring Systems can be Management’s Best Friend.” As servicers navigate heightened regulatory scrutiny and competitive pressures, these systems not only ensure compliance with regulatory requirements but also enhance operational efficiency. By distinguishing between QA’s preventive focus and QC’s detective function, the authors advocate for a robust internal control framework that proactively identifies potential issues before they escalate, safeguarding both operational integrity and organizational reputation.
The Mortgage Servicing Rule – Are You Prepared?
‘Jim Shankle and Liza Warner’s article, “The Mortgage Servicing Rule – Are You Prepared?”, published in the September/October 2017 issue of ABA Bank Compliance (now ABA Risk and Compliance), addresses the implementation challenges of the 2016 Mortgage Servicing Rule. The authors highlight the critical need for servicers to adapt to new requirements, particularly regarding servicing transfers and the management of delinquent loans. They stress the importance of strong organizational strategies, effective training, and quality assurance processes to ensure compliance and protect borrowers from potential harm.
The Ongoing Challenges of Servicing Transfers
‘In “The Ongoing Challenges of Servicing Transfers,” published in Mortgage Banking Magazine in February 2016, Chris Ortigara and Jim Shankle discuss the critical need for loan servicers to meticulously review their loan-boarding processes to ensure compliance with the CFPB’s mortgage servicing rules. They note that while many servicers are familiar with loss mitigation rules, challenges persist in documenting and implementing all aspects of their policies. Drawing on the CFPB’s Supervisory Highlights, the authors stress the importance of actively reviewing these updates to address common industry shortcomings.
Preparing for the Unexpected – Getting in Front of Major Risks Through an Enterprise Risk Management Framework
In “Preparing for the Unexpected – Getting in Front of Major Risks Through an Enterprise Risk Management Framework,” published in the December 2017/January 2018 issue of HousingWire, Jim Jorgensen highlights the importance of a robust enterprise risk management (ERM) framework for lenders. Drawing on Susan Schmidt Bies’s insights, he emphasizes that effective risk management can help avoid pitfalls like those seen during the Great Recession. Jorgensen advocates for the COSO framework, which aligns risk management with organizational strategies and encourages open communication about risks.
California Mortgage Bankers Association (California MBA) – 2017 Legal Issues and Regulatory Compliance Conference
Monika McCarthy, managing director and general counsel, moderated the General Counsel Roundtable at this conference which was held on December 4-5, 2017 in Irvine, California.
Wisconsin Bankers Association (WBA) – 2017 Deposit Compliance Alumni Update Seminar
On November 8th, Jim Treacy, director, addressed the Regulation CC changes. This seminar was geared specifically towards compliance officers.
Wisconsin Bankers Association (WBA) – 2017 Compliance Forum
Heidi Wier, managing director, presented HMDA – The Recent Finalized Amendments. The Forum was held October 31, November 1 and November 2 at different locations in Wisconsin.
Wisconsin Bankers Association (WBA) – 2017 Real Estate Compliance School
Heidi Wier, managing director, and Jim Treacy, director, taught a class on Reg Z and TRID, and Heidi also taught a class on HMDA, at the WBA’s Real Estate Compliance School on September 27th and 28th at the Wintergreen Resort & Conference Center in the Wisconsin Dells. This school was designed to provide attendees with a strong foundation on federal and state real estate lending laws.
Mortgage Bankers Association (MBA) – 2017 Regulatory Compliance Conference
On Sunday September 17th at the MBA’s Regulatory Compliance Conference, Monika McCarthy, managing director & general counsel, spoke, along with H. Burton Embry, executive vice president & chief compliance officer, Primary Residential Mortgage, Inc. in a session titled “Compliance Essentials/CMCP: Common Help Desk and Operational Questions for Compliance Officers.” This interactive session provided participants an opportunity to solve compliance problems and identify the tools and methods for solutions.
Northern Illinois Compliance Association (NICA) – 2017 Workshop
Jim Treacy, director, presented Final TRID and Mortgage Servicing Clarifications on Friday, September 8th at the NICA workshop. Jim “clarified” the clarifications and technical amendments on the final TRID rule issued by the CFPB July 7th. He also discussed the impact of the final rules issued by the CFPB on August 4, 2016 amending certain mortgage servicing rules.
Distinguishing Between a Real Internal Audit and an ‘Imitation’
In “Distinguishing Between a Real Internal Audit and an ‘Imitation’,” Chris Ortigara outlines essential considerations for independent mortgage companies seeking external support for their internal audit functions. She emphasizes the importance of starting conversations with certified professionals, as a solid understanding of internal audit concepts is critical. Ortigara clarifies that the International Institute of Internal Auditors (IIA) sets the standards, not regulators or investors. The article explores the “three lines of defense” model, where internal audit serves as the independent third line assessing risks across functions.
Effective Partnerships Between Banks and Marketplace Lenders – Managing Third-Party Risk
In their article “Effective Partnerships Between Banks and Marketplace Lenders – Managing Third-Party Risk,” published in the November/December 2016 issue of Illinois Banker, Chris Ortigara and Jim Shankle explore the evolving landscape of marketplace lending. They highlight how banks are shifting from viewing fintechs as potential disruptors to recognizing the value of collaboration. The authors emphasize the importance of three critical components in managing third-party risk: the fintech’s Compliance Management System (CMS), vendor management processes, and the testing of proprietary platforms. By ensuring strong oversight of these areas, banks can mitigate regulatory risks and foster successful partnerships with fintech companies, ultimately enhancing their service offerings in an increasingly competitive market.
Compliance Management – Working Smarter
Liza Warner’s article “Compliance Management – Working Smarter,” published in the July/August 2016 issue of ABA Bank Compliance (now ABA Risk and Compliance), discusses effective strategies for managing the compliance function in the face of ongoing regulatory changes. Warner emphasizes the importance of a robust Compliance Management System (CMS) that fosters a proactive compliance culture. She outlines key elements such as clear accountability through a three lines of defense approach, the integration of preventive and detective controls, and the need for effective training and vendor risk management.
California Mortgage Bankers Association – 2017 (California MBA) Western States Loan Servicing and Technology Conference
Jim Shankle, managing director in the Regulatory Compliance and Internal Audit practices, spoke on the servicing compliance panel at this conference which took place August 6-8th in San Diego, CA. Servicing related articles can be found in the Related Resources section of Regulatory Compliance.
What Is Your Time Worth?
In his article, “What Is Your Time Worth?” published in Mortgage Compliance Magazine in the June 2017 issue, Todd Krell discusses how you can have a more effective quality assurance program. He emphasizes the importance of evaluating the time savings associated with quality control functions, particularly when outsourcing these services. Krell highlights three key areas where time considerations are crucial: responses to findings, reporting and governance, and monthly reviews of vendors.
Unprecedented Times Call for Unprecedented Leadership – Advice for General Counsel from General Counsel
In her article, “Unprecedented Times Call for Unprecedented Leadership – Advice for General Counsel from General Counsel,” published in California Mortgage Finance News in the Spring 2017 issue, Monika McCarthy shares the advice of General Counsel colleagues on the challenges impacting the mortgage industry.
