How to Audit Compliance Effectively
In the July/August issue of ABA Bank Compliance, Heidi Wier discusses how auditors can partner with compliance, while still maintaining independence, ease the impact of ongoing regulatory changes and emerging issues such as COVID-19, increase audit effectiveness and add additional value to the organization.
California Mortgage Bankers Association (California MBA) – 2020 Mortgage Podcast
Check out the latest episode of the California MBA’s Connect podcast program. Monika McCarthy spoke with Dustin Hobbs, about her journey in the mortgage industry, how the new forbearance requirements have impacted lenders and servicers, what to look out for in the legal/regulatory space, and much more!
Central Florida Compliance Association (CFCA) – 2020 Common Compliance Findings: TRID and Beyond Webinar
On June 18th, 2020 Tracey Levandoski, CRCM, and Jim Treacy, CPA and Certified BSA Officer, presented a webinar for the Central Florida Compliance Association (CFCA). Both Tracey and Jim have deep compliance backgrounds in the financial services industry.
Financial Service Centers of America (FISCA) – 2020 Unmasking Key Considerations for Small Dollar Lenders Webinar
On June 3rd, 2020 Debbi Roberts participated on a panel discussing initial considerations for the small dollar lending businesses as consumers re-enter the world. The issues discussed include qualifying consumers who were recently unemployed or underemployed, addressing forthcoming consumer bankruptcies and having policies and procedures in place for the future. The other panelists included Jeremy Pope of Pope/Partners LLC, Blake Sims of Hudson Cook, LLP and Justin Hoise, also of Hudson Cook, LLP. This webinar was presented in conjunction with the Financial Service Centers of America (FISCA).
How to Help Your Fintech Partners Develop a Compliance Roadmap
In this article published in the May/June 2020 issue of ABA Bank Compliance, Tracey Levandoski, CRCM, describes how banks can help their fintech partners develop an effective path to building a compliance infrastructure. She addresses the various points of the “journey” to the destination of a fully functional compliance management system (CMS) that meets the regulators’s requirements as well as the bank’s expectations under its third-party risk management program.
Fair Lending Audit – Seeing the Forest for the Trees
In this new ABA Bank Compliance article, Fair Lending Audit – Seeing the Forest for the Trees, Liza Warner discusses how a fair lending internal audit helps an institution gain a clear and objective understanding of fair lending compliance risk. As a key area of regulatory scrutiny, and one that garners a lot of public attention, financial institutions must proactively manage fair lending risk exposure. This can be challenging because the requirements and principles touch all aspects of the lending process and require attention, not just to the trees – the technical regulatory details, processes, systems, and data, but to the forest – the attitudes, behaviors, and actions of its employees.
2020 Fair Lending Webinar – CFPB’s Focus on Redlining and Marketing Discrimination
On February 19, 2020 Karen Cullen of CrossCheck Compliance LLC and Richard Horn of Garris Horn PLLC led a one-hour webinar regarding the CFPB’s fair lending focus on redlining and marketing discrimination claims. The CFPB has noted in recent public reports that its fair lending efforts in the mortgage industry are focused on redlining and marketing discrimination. This webinar covered what a redlining or marketing discrimination claim looks like under the Equal Credit Opportunity Act and Fair Housing Act, past cases by the CFPB and DOJ, and potential steps you can take to evaluate and mitigate your risk.
CrossCheck Compliance Added to Kroll Bond Rating Agency List
CHICAGO, IL – January 13, 2020 – CrossCheck Compliance LLC (CrossCheck), a leading provider of regulatory compliance and due diligence services, announced today that the firm has been reviewed and added to the Kroll Bond Rating Agency’s (KBRA) published list of accepted third-party review firms whose review diligence grading, results, and reports conform to KBRA’s […]
Sovereign – CrossCheck Compliance Agreement
Chicago, IL – January 7, 2020 – CrossCheck Compliance LLC (“CrossCheck”) announced today that it has entered into a definitive agreement to acquire certain assets of Sovereign Mortgage Services, Inc. (“Sovereign”). The acquisition strengthens CrossCheck’s position in the financial services industry as a high-quality provider of mortgage quality control services and expands its client base […]
Mortgage Bankers Association (MBA) – 2020 Effective Internal Audit Function: The Fundamentals Webinar
On January 30, 2020 MBA Education and CrossCheck Compliance held part one of the Internal Audit webinar series. MBA webinars are complimentary to MBA members. The continuing regulatory focus by the CFPB, the GSEs, and other investors has driven the need for mortgage companies to enhance their corporate governance structures by implementing effective internal audit functions. This function should not be confused with pre-funding and post-closing quality control reviews. It is a separate function and substantially more expansive, including all aspects of your organization. Meeting regulatory expectations is not the only reason to implement an internal audit function; there are other benefits of making this investment including a better understanding of your operational and compliance risks, improvement of the control environment, opportunities for operational enhancements, and the potential for increased efficiencies and/or reduction of risks which could result in cost savings. This webinar explored the best practices for structuring an internal audit function as well as how to develop and implement an internal audit plan.
Mortgage Bankers Association (MBA) – 2020 Effective Internal Audit Function: Beyond the Basics Webinar
On February 13, 2020, MBA Education and CrossCheck Compliance held part two of the Internal Audit webinar series. Building on themes in part one, we discussed how effective internal audit programs evolve over time. What does it mean to have an effective internal audit function? What is the best structure for your internal audit function? Where does the function report in the organization? How should the risk assessment process work and how does it impact the audit plan? 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.
Health Check of Your Fair Lending Program – Connecting Risk Assessment and Performance Analysis
Published in Western Banker, this article addresses how strong compliance programs effectively navigate the challenging environment of fair lending compliance. This informative article describes how the key ingredient to success is establishing a connection between risk assessment and performance analysis.
Chicagoland Compliance Association (CCA) – 2019 Legislative and HMDA Updates
On December 6th, 2019 the Chicagoland Compliance Association (CCA) held an event at Northern Trust. The event included Legislative and HMDA Updates and a discussion of Complaint Management How-To’s. Karen Cullen presented How to Prepare Your HMDA Submission. Liza Warner, along with Donald Piattoni, Business Analytics Lead, PNC Bank, spoke about classifying complaints and key metrics of a Complaint Management System. Ms. Warner had previously authored an article for ABA Bank Compliance on the same topic.
Financial Service Centers of America (FISCA) – 2019 Money Trends Conference
On Monday, October 21, 2019 Heidi Wier was a co-presenter with Allen Denson, Partner of Hudson Cook, LLP, at the FISCA Money Trends Conference in Miami, FL. Their topic was entitled: The CFPB Examination Process and Critical Compliance Issues. This workshop provided attendees with the fundamentals of compliance management systems, examination preparations, and post-examination processes.
RegList – 2019 Fall Compliance Conference
November 5-6, 2019 RegList held their Fall 2019 Compliance event in Huntington Beach, CA. The two full days of content included presentations on timely and impactful topics, as well as opportunities to work alongside fellow RegListers to share knowledge and network. On Day Two, Monika McCarthy presented with Rich Horn, Managing Member, Garris Horn, on CFPB’s Focus on Fair Lending.
Illinois Mortgage Bankers Association (IMBA) – 2019 Mortgage Market Update
On October 25th, 2019, the IMBA held its Mortgage Market Update event at the Wintrust Mortgage office in Rosemont, IL. Topics included an economic forecast, updates from Fannie Mae, a non-QM product discussion, and the impact of MI risk-based pricing on secondary and origination. Chris Ortigara moderated the non-QM panel.
Arch MI – 2019 Executive Roundtable
On October 15th, 2019 in Rosemont, IL, Chris Ortigara participated in the Arch MI Executive Roundtable. At this complimentary panel luncheon for Chicago-area mortgage executives, Chris addressed new regulatory requirements facing lenders. Other panelists included Bernard Nossuli, iEmergent Chief Operating Officer, Brett O’Daniell, HomeTraq Co-Founder and Laura Kay Sheely, Arch MI Account Manager. Sheely co-hosted the event with Account Manager, Faith Henderson.
Western Bankers Association (WBA) – 2019 Mortgage Servicing Webinar
On November 7th, 2019 Jim Shankle presented a webinar entitled – Avoiding Surprises in Mortgage Servicing. As banks face competitive challenges and increased regulatory and investor scrutiny, establishing internal monitoring systems to provide ongoing feedback on critical servicing components should be an integral part of the management structure for all loan servicers. Preventing surprises that can result in significant operational, regulatory, reputational, and financial burdens, if not detected on a timely basis is just as critical. In this webinar, attendees learned about the challenges servicers have had managing and implementing the Consumer Financial Protection Bureau rules, especially related to servicing transfers. While the business reasons for transferring servicing are justified, the responsibility for compliance with servicing rules cannot be delegated if servicing activities are out-sourced to a third party. In addition to implementing the rules, regulatory and investor quality control requirements for the ongoing monitoring of servicing activities were addressed.
Utah Bankers Association (UBA) – 2019 Fall Compliance Conference
The 2019 annual UBA Fall Compliance Conference, named Compliance Superhero Conference, taking place in Park City, Utah October 23-25, offered compliance professionals in-depth, content-rich discussions that addressed critically important topics. Tracey Levandoski, director in CrossCheck’s Regulatory Compliance and Internal Audit practices, was one of the featured speakers. Tracey presented: CMS Auditors: Superheros or Your Bank Nemesis? Her presentation focused on how to make the most of your bank’s CMS Audits.
Wisconsin Mortgage Bankers Association (WMBA) – 2019 Mortgage Bootcamp
November 12-13, 2019 WMBA held its Second Annual Mortgage Bootcamp. Designed for those who work in the mortgage industry, this highly recommended one-and-a half day seminar walked attendees through the mortgage loan cycle and everything they needed to know to be a stronger mortgage professional. On Day Two, Heidi Wier, managing director in CrossCheck’s Regulatory Compliance and Internal Audit practices, presented Mortgage Lending Compliance. Her presentation was an overview of the top mortgage lending regulations the attendees need to know as a mortgage lender.
