Closing the Gap – Advancing the Next Generation of Compliance Leaders
In the March/April issue of ABA Bank Compliance, Jim Jorgensen authored this article entitled Closing the Gap – Advancing the next Generation of Compliance Leaders. This is a topic of discussion in many organizations. How can you prepare the junior staff to be ready to take on the responsibilities expected by the board and senior management to meet regulator expectations? To address this issue we spoke with several compliance officers from community banks to large regional banks to get their insights on how they advance the next generation of compliance executives. The insights in this article will help prepare you for enhancing your own organization’s succession planning.
Buckle Up! Indirect Automotive Fair Lending Risks Ahead – Fuel Up your Compliance Program for the Journey Ahead
In the January/February issue of ABA Bank Compliance, Liza Warner authored the article, Buckle Up! Indirect Automotive Fair Lending Risks Ahead. Both bank and non-bank lenders face regulatory scrutiny surrounding the indirect automotive lending sector. In the article, Liza discusses how to spot the red flags or risk indicators in this type of lending and how to stay clear of ‘accidents’. She also discusses credit risk management and data integrity. For safe navigation, follow the ‘rules of the road’.
Risk Management of Third-Party Relationships
In the Utah Banker Magazine, Tracey Levandoski authored an article entitled, Risk Management of Third-Party Relationships. Third-party risk management continues to be an increasing regulatory focus as indicated by the proposed Interagency Guidance on Third-Party Relationships: Risk Management. Understanding the details of sound risk management outlined in the proposed guidance and enhancing your third-party risk management program commensurate with the risk level of your third-party service provider relationships will place your organization in a more favorable position for the next regulatory examination.
California Mortgage Bankers Association (California MBA) – 2022 Legal Issues and Regulatory Compliance Conference
CrossCheck Compliance was, once again, a sponsor of the California MBA’s Legal Issues and Regulatory Compliance Conference which took place in December 2022. This conference focused on the trends and hot issues in litigation & regulatory compliance for the residential lending community. The panels featured some of the nation’s leading industry experts including Todd Krell and Monika L. McCarthy. Todd moderated and spoke on the Non-QM Compliance panel which discussed how the loan origination and due diligence processes differ from Agency requirements. Monika moderated the General Counsel Roundtable.
The Final Flood Insurance Q&As Are Here!
In the November-December 2022 issue of ABA Bank Compliance, Sara McGinnis addresses the final flood insurance Q&As from the five federal regulatory agencies. Based on banker feedback and the most frequently asked questions from lenders on a wide spectrum of technical flood insurance-related compliance issues, the final Q&As replace those originally published by the agencies in 1997 and updated in 2009 and 2011.
Mortgage Bankers Association (MBA) – 2022 Ensuring HMDA Data Integrity and Common Reporting Issues Webinar
On December 14th, 2022 Heidi Wier, Managing Director, participated on a panel with Diana Ringer, Master CMB, AMP, Chief Compliance Officer, Ruoff Mortgage; and Fedor Kamensky, Member, Weiner Brodsky Kider PC; which presented a webinar for the MBA on Ensuring HMDA Data Integrity and Common Reporting Issues. Implementing a strong, comprehensive HMDA compliance program will help ensure the accuracy of your HMDA data, and in turn, should ensure the data portrays an accurate picture of your fair lending performance. All webinars are complimentary for MBA members and available on the MBA’s website. If you missed the webinar, please log in to the MBA’s website to access the recorded webinar.
American Financial Services Association (AFSA) – 2022 Annual Meeting
AFSA held its 2022 annual meeting October 23-26 at The Breakers in Palm Beach, Florida. At the Operations and Regulatory Compliance Committee meeting, Mike Forester participated on a panel with Michael Gordon, Partner at Ballard Spahr LLP. They discussed Hot Topics in Auto Finance.
Chicagoland Compliance Association (CCA) – 2022 Annual Conference
The Chicagoland Compliance Association (CCA) held its Annual Conference on November 17th, 2022 at Drury Lane, Oakbrook Terrace, IL. Sara McGinnis was one of the presenters. Her topic was Flood and new Interagency FAQs.
Utah Bankers Association (UBA) – 2022 Compliance Conference
The Utah Bankers Association (UBA) held its 2022 Compliance Conference October 25-27 in Park City, UT. On Thursday, October 27th, Monika McCarthy presented, Fair Lending Trends.
Utah Bankers Association (UBA) – 2022 Compliance Conference
The Utah Bankers Association (UBA) held its 2022 Compliance Conference – The Pulse of Compliance – October 25-27 in Park City, UT. On Wednesday, October 26th, 2022 Monika McCarthy moderated a UDAAP panel. The panelists included Robert Marx, VP Compliance, WebBank; Rich Friess, VP Compliance Officer, The Bank of Commerce; and Niki Christensen, Chief Compliance Officer, Central Bank. The American Bankers Association Professional Certifications has approved The Pulse of Compliance 2022 for: 15.25 CRCM, 4.25 CERP, 3 CAFP credits. This was a hybrid event.
Conference on Consumer Finance Law (CCFL) – 2022 Fall Consumer Financial Services Conference
On October 20 and 21, 2022 the Conference on Consumer Finance Law (CCFL) held their Consumer Financial Services Conference at the Renaissance Dallas in Plano, TX. On Day One, Monika McCarthy moderated a panel which included Daniel Johnson from CrossCheck Compliance LLC, L. Jean Noonan from Hudson Cook, LLP, Tricia de Leon, Holland & Knight LLP and Devin House from Toyota Financial Services. The panel’s topic was Trends in Auto Fair Lending.
Mortgage Bankers Association (MBA) – 2022 Regulatory Compliance Conference
Monika McCarthy was a panelist at the RegTech Track session, Surveying the Regulatory Landscape and Future of RegTech, during the MBA’s Regulatory Compliance Conference which took place September 18-20, 2022 in Washington, DC. This session highlighted a variety of challenges and how RegTech can help solve them and stay ahead of pending changes. The other panelists included Chris Hilliard, Chief Operating Officer and Founder, Winnow Solutions, LLC; Amy Azorandia, SVP Mortgage Compliance/Systems, First Trust Bank; and Tara Healy, Chief Compliance Officer, Cherry Creek Mortgage Co., Inc.
ABA 32nd Edition of the Reference Guide to Regulatory Compliance Now Available
CrossCheck Compliance was honored to work with the American Bankers Association (ABA) as the author of the most recent updates to the Reference Guide to Regulatory Compliance (the Guide). The Guide is a comprehensive and detailed resource for compliance professionals and those preparing for the CRCM exam. It is now available for purchase on the ABA’s […]
National Association of Industrial Bankers (NAIB) and Utah Association of Financial Services (UAFS) – 2022 Convention
On August 11, 2022 Tracey Levandoski, CRCM was a speaker at the National Association of Industrial Bankers (NAIB) and Utah Association of Financial Services (UAFS) convention in Park City, UT. Her presentation focused on Third-Party Relationships and include the following topics: Highlights of FIL-44-2008: Guidance for Managing Third-Party Risk, Summary of FIL-50-2021: Proposed Interagency Guidance on Third-Party Relationships: Risk Management, Fourth Party Management, and Preparing for the Proposed Guidance.
Mortgage Bankers Association (MBA) – 2022 Effective Internal Audit Function – Beyond the Basics Webinar
On July 11, 2022 CrossCheck Compliance experts Heidi Wier, Managing Director, Sara McGinnis, Director and Wendy McMillan, Manager, presented the second part of the Effective Internal Audit Function webinar series for the Mortgage Bankers Association. Julie Humphrey, EVP, Internal Audit, Fay Servicing, was also a presenter and provided the lender perspective. Building on themes in part one, in part two, Beyond the Basics, we discussed how effective internal audit programs evolve over time. What does it mean to have an effective internal audit function including corporate governance? How should the risk assessment process work and how does it impact the audit plan? What are the challenges of implementing an audit function? These are just some of the common questions facing mortgage bankers. Participants learned about practical, sustainable internal audit programs from experts who possess industry recognized internal audit credentials and a lender faced with these same questions.
Watch Out: TRID Errors – Eight Common TILA-RESPA Integrated Disclosure Errors
In this article, Jim Treacy explores the eight common TILA-RESPA Integrated Disclosure (TRID) Errors. These errors can increase the potential for fee tolerance violations so you will want to be sure not to make any or these errors. Loan origination systems can assist in identifying many TRID-related violations, but it is not foolproof. Policies and procedures, training and monitoring can all help decrease the number of exceptions. Learn more in this informative article.
CrossCheck Compliance LLC Added to DBRS Morningstar List
CrossCheck Compliance LLC announced that the firm has been reviewed by DBRS Morningstar and added to their list of acceptable third-party due-diligence firms for DBRS Morningstar-rated residential mortgage-backed security (RMBS) transactions.
How to Conduct an Internal Compliance Investigation
In the May/June 2022 issue of ABA Bank Compliance Magazine, Liza Warner authored an article entitled: How to Conduct An Internal Compliance Investigation. A timely and methodical investigation will provide information that may help limit the institution’s regulatory and legal exposure. In the article, Liza addresses the Compliance Management System and your investigation process, considerations for an internal compliance investigation, and how to conduct a compliance investigation.
Central Florida Compliance Association (CFCA) – 2022 Fair Lending Risks Webinar
On June 9, 2022 Liza Warner presented a webinar for the CFCA on Fair Lending Risks in Originations, Servicing & Small Business.
Mortgage Bankers Association (MBA) – 2022 Effective Internal Audit Function Webinar
On June 8th, 2022 Heidi Wier and Jim Treacy presented a webinar for the MBA. This webinar was part one of a two part series. The first webinar focused on the fundamentals of an effective internal audit function. The presenters explored the best practices for structuring an internal audit function as well as how to develop and implement a risk-based internal audit plan. Part Two, Beyond the Basics, will be presented on July 11. MBA webinars are complimentary to MBA members.
