CrossCheck Compliance LLC proudly announces a strategic alliance with Gate House Compliance, led by former HUD deputy secretary Brian Montgomery, civil rights attorney Paul Hancock of K&L Gates, and Michael Waldron, founder and partner of Compliability Solutions LLC. More details can be found in the BusinessWire press release, and in articles by HousingWire and National… Read more »
Utah Banker Magazine – Meeting the Credit Needs of the Community Through Special Purpose Credit Programs
In 2023 Issue 4 of Utah Banker, CrossCheck Compliance LLC Manager Keenan Neal authored an article titled Meeting the Credit Needs of the Community Through Special Purpose Credit Programs (SPCP). Homeownership is crucial for building wealth and achieving upward mobility; implementing slight adjustments to underwriting criteria or down-payment assistance programs could facilitate increased homeownership, strengthen… Read more »
On January 30th, Monika McCarthy participated in a webcast hosted by the Pennsylvania Bar Institute (PBI) on the topic of Debt Collection & Loan Servicing – Fundamental and Emerging Issues. Topics included key regulations such as the FCRA, FDCPA, TCPA, Arbitration issues, RESPA, and fair servicing; with Monika speaking about fair servicing risks and best… Read more »
On December 14th, Ryan Addabbo presented a webinar hosted by the Tri State League of Financial Institutions on the topic of Emerging Issues in Fair Lending.
On December 15th, Heidi Wier participated in a webinar hosted by the Chicagoland Compliance Association (CCA). Common HMDA reporting errors and challenges were discussed, as well as HMDA data integrity tips, transaction testing standards and tolerances, recent enforcement actions, and best practices to consider.
Is internal audit top of mind in your institution? A well established audit function should provide management and key stakeholders with ongoing assurance of the effectiveness of the company’s control environment and risk management processes. Learn how to establish an independent, effective internal audit function that promotes good corporate governance in Heidi Wier and Sara… Read more »
On November 1st, Monika McCarthy spoke at the Utah Bankers Association’s Fall Compliance Conference on Fair Lending and Redlining Developments impacting banks.
On October 27th, Sara McGinnis, CRCM, CAMS, CAFP conducted a training on flood insurance compliance for the Tri-State League of Financial Institutions. Other resources on flood insurance include an article authored by Sara on this topic, published in ABA Bank Compliance, and the ABA’s Reference Guide to Flood Compliance, First Edition.
On October 5th, Liza Warner, Partner at CrossCheck Compliance LLC, and Karen Cullen, Senior VPs at Landmark Credit Union, lead a session at the 2023 Chicagoland Compliance Association Annual Conference. They covered key considerations for conducting compliance related investigations, analyzing complaints for further investigation, and monitoring social media for compliance issues.
Ryan Addabbo presented at the Central Florida Compliance Association’s 2023 Annual Conference on the topic of Social Learning and the Department of Justice – lessons learned from recent fair lending enforcement actions. The presentation explored trends in recent DOJ fair lending actions, helping attendees compare their institution to the identified risk factors in these recent… Read more »
On October 24th, Heidi Wier and Ryan Addabbo participated in an MBA Education webinar titled Using Data Analysis as Part of a Strong Fair Lending Compliance Program. Other panelists were industry experts Tony Villarreal from Nations Lending, and Fedor Kamensky and Brian Serafin from Weiner Brodsky Kider PC. Accurate and consistent risk reporting helps board… Read more »
Wendy McMillan spoke at the Central Florida Compliance Association 2023 Annual Conference on October 20th on the topic of High-Risk Customer Reviews. Customer risk-rating models are one of the primary tools available to financial institutions to detect money laundering. Wendy discussed regulatory expectations and best practices to consider when conducting high-risk customer reviews.
The CrossCheck Compliance team was honored once again to collaborate with the ABA in authoring the 33rd edition of the Reference Guide to Regulatory Compliance. This Guide is updated annually and is the ideal resource for compliance managers, department staff, product managers, retail branch banking managers and anyone who is preparing to take the Certified… Read more »
2023 MBA Compliance and Risk Management Conference – Compliance Conversations Track: Fair Lending – LEP
On September 10, Monika McCarthy co-moderated a panel on the topic of Fair Lending. Monika and Feder Kamensky, Partner at Weiner Brodsky Kider PC, discussed serving Limited English Proficiency (LEP) consumers and the when, what, and hows of disclosures, translation requirements, charging LEP borrowers for translation, and much more.
On September 8, Monika McCarthy moderated a panel – See Her, Hear Her: Historical Evolution, Advocacy, and the Path Ahead. This panel discussed the history of women in the legal profession, highlighted the importance of advocacy and activism for advancing the rights and opportunities of women in the field, and explored the future of the… Read more »
2023 MBA Compliance and Risk Management Conference – Fraud Prevention Track: Strategies for Detecting and Preventing Fraud Panel
On Monday, September 11th, Mike Forester spoke on a panel on the topic of mortgage fraud. Through case studies and examples from real fraud reviews, industry practitioners recommended strategies to better detect, prevent, and manage suspicious activities. Attendees received tips on how to use QC and LOS reports to monitor fraud. They learned about emerging… Read more »
In Issue 2 of Utah Banker, CrossCheck Compliance LLC Manager John Pace, CRCM authored an article titled Dodd-Frank Section 1071: Objects in Mirror Are Closer Than They Appear. This article explores the compliance impacts for financial institutions since the passage of Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires… Read more »
On July 27th, 2023, Ryan Addabbo presented at the ChicagoLand Compliance Association on the topic of Fair Lending Analysis. This session covered fair lending analysis institutions should consider conducting to identify and mitigate risks.
A strong compliance culture creates a work environment where employees understand how and why they do what they do. It also helps banks and other organizations maintain the trust of customers and stakeholders and avoid regulatory, legal, and reputational risks. Heidi Wier authored a new article in the July/August issue of ABA Risk and Compliance,… Read more »
In the inaugural issue of ABA Risk and Compliance, formerly known as ABA Bank Compliance, Sara McGinnis authored a new article, Understanding the Complexities of Enterprise Risk Management, A Guide for Compliance Professionals. This article reflects the industry transformation taking place as banks break down the silos between risk management and compliance functions due to… Read more »
Tracey Levandoski is the author of this new white paper, Building Your Defenses: Compliance Management for First-Line Operations. Many banks have moved to three lines of defense (3LOD) governance model, even if they are not yet required to because of their asset size ($50 billion or more). In the 3LOD model, the business lines (1LOD),… Read more »
With the release of regulations implementing Section 1071 of the Dodd-Frank Act, compliance officers are gearing up for this monumental change in the small business lending process. This updated article, We Are Change Leaders: Adapting and Advancing in the Evolving Financial Services Landscape, originally published in ABA Bank Compliance, details the compliance officer’s role in managing… Read more »
On April 27th, 2023 Heidi Wier and Ryan Addabbo were presenters on a California MBA Mortgage Quality and Compliance Committee (MQAC) webinar about using HMDA data to benefit a lender’s business beyond customary performance analytics for compliance and regulatory risks. During this webinar, the attendees learned all the prospective opportunities with what you can do… Read more »
If you are looking for more information about implementing a consumer complaint response process, there is a resource available through the MBA’s program. Managing Consumer Complaints for Compliance Professionals is part of the Certified Mortgage Compliance Professional (CMCP) Certification and Designation program, the only certification and designation program that is geared exclusively towards compliance professionals in… Read more »
CrossCheck Compliance is honored that its managing director, Heidi Wier, worked with the MBA on two HMDA related courses which are part of the MBA’s Certified Mortgage Compliance Professional Certificate and Designation (CMCP) program, HMDA Compliance Basics and Mastering HMDA Data for Compliance Professionals. We would also like to acknowledge Jenni Smith, Manager, for her work… Read more »
How prepared is your credit union for a fair lending examination? NCUA’s 2023 Supervisory Priorities make it clear that examiners will review policies and practices for steering or loan pricing discrimination risk factors. Examiners will also assess a credit union’s policies and practices related to residential real estate appraisals. Now is a good time to… Read more »
On March 22nd, 2023 Sara McGinnis, CRCM, CAMS, CAFP, and Wendy McMillan, CIA, CRMA, presented a webinar on flood insurance compliance and a summary of the Interagency Flood Q&As for the Central Florida Compliance Association (CFCA). Other resources on flood insurance include an article authored by Sara on this topic, published in ABA Bank Compliance, and… Read more »
CrossCheck Compliance would like to acknowledge our colleague, Sara McGinnis, CRCM, CAMS, CAFP for her work writing the American Bankers Association (ABA) Reference Guide to Flood Compliance, First Edition. Thank you to numerous industry bankers and ABA colleagues for their time and expertise in bringing this guide to completion. The 2022 ABA Flood Compliance Guide is… Read more »
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… Read more »
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… Read more »
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… Read more »
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… Read more »
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… Read more »
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… Read more »
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.
The Chicagoland Compliance Association (CCA) held its Annual Conference on November 17th at Drury Lane, Oakbrook Terrace, IL. Sara McGinnis was one of the presenters. Her topic was Flood and new Interagency FAQs.
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.
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, 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,… Read more »
On October 20 and 21, The Conference on Consumer Finance Law (CCFL) holds 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… Read more »
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 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… Read more »
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… Read more »
On August 11, 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… Read more »
On July 11, 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… Read more »
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… Read more »
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.
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… Read more »
On June 9, Liza Warner presented a webinar for the Central Florida Compliance Association (CFCA) on Fair Lending Risks in Originations, Servicing & Small Business. For more information about CFCA and/or this webinar please reach out to Mollie Sudhoff.
On June 8th, Heidi Wier and Jim Treacy presented a webinar for the Mortgage Bankers Association (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… Read more »
On May 19, Daniel Johnson presented Trends in Fair Lending for the Oklahoma Bankers Association’s 2022 Convention. This session highlighted the key actions and activities important for each bank to have in place to ensure its teams are treating customers fairly and equitably. Daniel discussed key controls and monitoring over indirect automotive lending, mortgage servicing… Read more »
On Friday May 6, Liza Warner was a presenter on the Fair and Responsible Lending and Fair Servicing Panel for the Chicagoland Compliance Association. This was a hybrid event with both in-person and virtual access. Fair lending encompasses the entire lending cycle including servicing. Liza discussed servicing activities that financial entities should be addressing within… Read more »
Do you know what’s current in compliance? The American Bankers Association’s (ABA’s) Reference Guide to Regulatory Compliance is an ideal resource for compliance professionals and those preparing for the Certified Regulatory Compliance (CRCM) exam. Our team of compliance experts worked closely with the ABA on updates to the 31st edition which include: Advisories on Predatory… Read more »
Sara McGinnis spoke at the 35th Annual Florida Bankers Association’s Consumer Compliance Seminar which ran from April 13 – April 15 in Orlando, Florida. Sara’s topic for the General Session on Friday, April 15 was “Beyond the Basics – Meeting Board and Regulatory Expectations for all Types of Audits”. FBA applied for 20 CRCM credits… Read more »
On April 7, 2022, Heidi Wier spoke at the Fourth Annual WMBA Mortgage Bootcamp. She gave an overview of the mortgage regulations you need to know as a mortgage lender and the regulator impact on the lending environment.
On March 24th, Daniel Johnson participated in a California MBA Mortgage Quality and Compliance Committee fair lending webinar. The webinar covered pricing exceptions, underwriting exceptions, and marketing. Along with Daniel, the speakers also included Marty Allred, Chief Compliance Officer, American Pacific Mortgage, and Paula Leber, VP of Compliance and Licensing, CMG Financial. The three panelists… Read more »
In the January/February issue of ABA Bank Compliance, Jim Jorgensen explores the skills that highly successful compliance officers (COs) need to develop. To address this issue, Jim spoke with several COs from community banks to large regional banks. They shared their insights about what skills they feel are most valuable for their roles and how… Read more »
The Illinois Bankers (IBA) held its Bank Counsel Conference on December 3, 2021 in Chicago. Monika McCarthy and Justin C. Steffen, Esq., Partner, Barack Ferrazzano Financial Institutions Group co-presented a session entitled The Future of Digital Mortgages. They addressed how to choose the right partners with the right contractual provisions, balancing considerations such as data… Read more »
On November 30th, Heidi Wier participated with Joseph T. Lynyak III, Partner, Dorsey & Whitney LLP, in the Bank Counsel Roundtable webinar – Fair Lending Under the Biden Administration: A Reboot or Something Different? The speakers reviewed important components of a fair lending program, including recommended approaches to review an institution’s fair lending policies and… Read more »
The Texas Mortgage Bankers Association (TMBA) held its 4th Annual Mortgage Symposium on November 8th and 9th at the Renaissance Dallas at Plano Legacy West hotel. This year, the focus was on redefining company culture, including employee engagement and motivation, communicating change, training, and diversity & inclusion. Debbi Roberts was a facilitator for a discussion… Read more »
On Tuesday, October 26th Tracey Levandoski presented a webinar for the Suncoast Bankers Compliance Association (SBCA). The topic of this webinar was Avoiding UDAAP Pitfalls: Recognizing Risk in Marketing and Advertising. Attendees learned the UDAAP considerations related to the target audience, qualifying conditions, support for claims, testimonials, language and disclosures. This webinar also covered marketing’s… Read more »
The Utah Bankers Association hosted its Fall Compliance Conference – Unmasked from October 19-21 in Park City, Utah. This was a hybrid event. Participants chose whether to attend either in person or via Zoom. On Tuesday October 19th, Tracey Levandoski presented one session on UDAAP and one on Fair Lending for Commercial Loans. The… Read more »
October 20 to October 22, the Georgia Bankers Association hosted its annual Compliance Conference at the King and Prince Beach & Golf Resort in St. Simons, GA. On October 21, Jim Treacy presented Online Account Opening Compliance. This event covered the full spectrum of compliance topics and provided participants the opportunity to network, share best… Read more »
On September 29, Bradley Teplin and Liza Warner presented a webinar for the American Bankers Association (ABA) – Best Practices for Monitoring Servicing Performance. This webinar helped participants be better prepared to address common regulatory and investor concerns, improve consumer complaint management, and differentiate between the unique roles of quality assurance and quality control in managing loan… Read more »
On September 23, as part of the American Bar Association Business Law Section Annual Meeting 2021, Monika McCarthy participated on a panel – Fair Servicing Spotlight and CARES Act Challenges. This panel discussed best practices to avoid fair servicing risks, predictions for fair servicing supervision and enforcement activity, and priorities of consumer advocates in the… Read more »
On Tuesday September 14th, Monika McCarthy participated on a panel at the MBA’s Regulatory Compliance Conference. The panel’s topic was Working with Your Vendors to Solve Common Compliance Challenges. Attendees learned best practices for engaging with vendors to solve common compliance challenges based on scenarios presented by industry practitioners.
Published in the September/October issue of ABA Bank Compliance, this article discusses managing fair lending risks in all loan products offered, not just mortgage loans reported under the Home Mortgage Disclosure Act (HMDA). While managing fair lending exposure outside the realm of home mortgage lending can be challenging, it is not an impossible mission. Learn… Read more »
CrossCheck Compliance announced today that the firm has been assessed by Fitch Ratings, Inc. (Fitch), a nationally recognized statistical rating organization, and added to their list of TPR firms that are acceptable for conducting loan-level diligence for private-label residential mortgage-backed securities (RMBS) transactions. “We are pleased that Fitch has recognized our capabilities as a third-party… Read more »
On August 25th, Jocali Nakao, CRCM and CAMS, and Tracey Levandoski, CRCM, presented a webinar for the American Bankers Association (ABA). The topic of the webinar was Compliance Management for First-Line Operations. Called the first line of defense, the bank’s frontline and back-office operations together own compliance risk for the products it sells and services.… Read more »
On August 19, Liza Warner presented a webinar on Fair Lending Risks in Originations, Servicing and Small Business for the Chicagoland Compliance Association (CCA). The current administration and the CFPB are both focused on equity and inclusion which extends to lending activities. Banks have always been expected to provide lending related services in a fair… Read more »
On Friday July 16, at the NICA July meeting, Tracey Levandoski presented – Developing a Fintech Compliance Roadmap. This presentation focused on the factors bank management should consider in selecting a fintech lending partner, and then after making the selection, how the bank can help their fintech strategic partners develop a compliance roadmap and compliance… Read more »
“Sara brings a wealth of knowledge and expertise to our clients and team.” said Liza Warner, managing director, practice leader for regulatory compliance, internal audit, and fair lending.” Sara’s has internal audit and compliance management positions at USAA, U.S. Bank, Associated Banc-Corp, Johnson Financial Group and Wipfli LLP. For more information on Sara, please see… Read more »
Liza Warner participated on three different panels at the American Bankers Association’s Regulatory Compliance Conference which was held June 22-24. These panels are: 1) Fair and Responsible Lending Risks for Mortgages Part 1: Product Design, Marketing and Originations, 2) Fair and Responsible Lending Risks for Mortgages Part 2: Fair Servicing and Debt Collections, and 3)… Read more »
In the July/August issue of ABA Bank Compliance, Heidi Wier authored an article entitled, Four Pillars of an Effective HMDA Compliance Program, Keys to Successful Data Integrity and Accurate Fair Lending Performance Analysis. Complete and accurate HMDA data is essential to understanding where and to whom loans are being made. Regulators have signaled that continued and… Read more »
At the June 17th meeting of the Central Florida Compliance Association (CFCA), Heidi Wier presented a webinar entitled, HMDA: Keys to Successful Data Integrity.
On June 10, Tracey Levandoski presented a webinar for the American Bankers Association (ABA) entitled Avoiding UDAAP Pitfalls: Recognizing and Addressing Risk in Marketing and Advertising. Enforcement actions for UDAAP violations are likely to increase, and UDAAP risk should be on the minds of every bank’s marketing manager. Supervisory highlights from the CFPB include references… Read more »
On June 9, Tracey Levandoski presented a webinar for the Chicagoland Compliance Association (CCA). Her presentation focused on the factors bank management should consider in selecting a fintech lending partner, and then after making the selection, how the bank can help their fintech strategic partners develop a compliance roadmap and compliance infrastructure that meets the… Read more »
On May 20, 2021, Heidi Wier and Jim Treacy presented a webinar for the American Bankers Association (ABA). During this webinar, The Compliance-Audit Partnership, participants learned how auditors can collaborate with compliance officers to fully understand the bank’s compliance risk and develop an audit plan to best address that risk while maintaining independence as the… Read more »
Tracey Levandoski authored this informative article published in the May/June 2021 issues of ABA Bank Compliance. Enforcement actions for UDAAP violations are likely to increase, and UDAAP risk should be on the minds of every bank’s marketing manager. Supervisory highlights from the CFPB include references to misleading advertisements of bonus offers on deposit accounts, misleading… Read more »
In March 2021, Jim Treacy taught TRID and ATR/QM for the Wisconsin Bankers Association’s Real Estate Compliance School.
In March 2021 Heidi Wier presented a Compliance Bootcamp for the Wisconsin Mortgage Bankers Association.
In March 2021, Heidi Wier taught HMDA for the Wisconsin Bankers Association’s (WBA) Real Estate Compliance School. Heidi has been a long-standing teacher for the WBA.
CrossCheck Compliance LLC announced today that the firm has promoted Tracey Levandoski to managing director in its regulatory compliance and internal audit practice. In her expanded role Levandoski will be responsible for a portfolio of clients, leading strategic partner engagements, and engagement teams.
On January 20, 2021 Heidi Wier presented a webinar for the Chicagoland Compliance Association (CCA) – HMDA: Submit with Confidence, Keys to Successful Data Integrity. Heidi discussed strategies for validating HMDA data prior to submission and ways to keep your HMDA data accurate going forward. The agenda included: Verifying your data Performing final reviews Understanding… Read more »
In the January/February 2021 issue of ABA Bank Compliance, Liza Warner provides insight into how a bank can use the results of the March 2020 Consumer Financial Protection Bureau (CFPB) Consumer Response Annual Report as a reference point to analyze its own complaints. In 2019, the period covered by this report, there were over 350,000… Read more »
On January 12, 2021 at the California Mortgage Bankers Association’s Legal Issues and Regulatory Compliance Conference, Monika McCarthy moderated a General Counsel Roundtable. The other general counsel panelists included Ann Savage-Davis, Mountain West Financial, Inc., Lauren Ingersoll, Inspire Home Loans, Inc., Marc Ely, Paramount Residential Mortgage Group, Inc. and Philip Schild, Homebridge Financial Services, Inc.… Read more »
If you are looking for more information about implementing a consumer complaint response process, there is a new resource available through the MBA’s education program. Managing Consumer Complaints for Compliance Professionals, is a new course that Heidi Wier worked on with the MBA. This course presents foundational concepts to help companies improve their consumer complaint… Read more »
In the Fall 2020 issue of California Mortgage Finance News, Monika McCarthy authored an article entitled, Combating Current Legal Threats, Tips for Mortgage Lenders and Servicers. She addresses three key threats that have emerged since the pandemic that impact California mortgage lenders and servicers: 1) fair servicing issues, 2) fair lending issues, and 3) the… Read more »
CrossCheck Compliance was honored to have its managing director, Heidi Wier, work with the MBA to develop Mastering HMDA Data for Compliance Professionals. This course is available as a standalone course or as one of the 12 courses in the MBA’s Level II Certified Mortgage Compliance Professional Certificate and Designation (CMCP) curriculum. For more information… Read more »
At the MBA’s 2020 Regulatory Compliance Conference, Monika McCarthy co-presented with Laura LaRaia, Chief Legal Officer and General Counsel of First Guaranty Mortgage Corporation. Their presentation, Reviewing Processes for Compliance Professionals, was part of the CMCP Track and provided guidance on advertising and marketing compliance.
CrossCheck Compliance LLC, a leading provider of regulatory compliance and due diligence services, announced today that the firm has been added to the S&P Global Ratings’ (S&P) list of reviewed firms that conduct third-party due diligence for U.S. residential mortgage-backed securities (RMBS).
In the November/December issue of ABA Bank Compliance, Jim Treacy addresses how banks can build an appropriate BSA/AML/OFAC Compliance Program. Jim covers performing an enterprise-wide BSA/AML/OFAC risk assessment, as well as developing a customer risk profile for each individual money service business (MSB). He also describes ongoing monitoring of MSB customers and MSB red flags… Read more »
In this article, published in the Utah Banker, Tracey Levandoski discusses the risks to consider and the decisions to be made as banks accelerate their digital strategies through partnerships with fintech lenders. In addition to reviewing the regulatory guidance for managing third-party risk, she addresses the evaluation process in terms of lending experience and expertise… Read more »
At the Utah Bankers Virtual Compliance Conference, Liza Warner moderated the Compliance Officers Roundtable. The panel discussed hot topics that compliance officers are facing. Overall the conference offered a mixture of general and breakout sessions designed to help compliance professionals stay current with and function confidently in the rapidly changing regulatory environment.
Tracey Levandoski presented at the Utah Bankers Compliance virtual conference at one of the breakout sessions on Tuesday October 27. She addressed, Developing a Fintech Compliance Roadmap. Her presentation focused on the factors bank management should consider in selecting a fintech lending partner, and then after making the selection, how the bank can help their… Read more »
On September 22nd, Todd Krell participated on a quality control panel for ACUMA’s Annual Conference. The theme, “Celebrating Credit Union Mortgage Heroes”, was dedicated to all the front-line financial workers who play a vital role in making it possible to put people in homes every day, especially during the pandemic. Panelists included: Todd Krell, Managing… Read more »
CrossCheck Compliance was honored to work with the American Bankers Association (ABA) as the author of the 30th edition updates to the Reference Guide to Regulatory Compliance. This guide is a comprehensive and detailed resource for compliance professionals and those preparing for the CRCM exam. This latest edition is available at https://www.aba.com/news-research/references-guides/reference-guide-regulatory-compliance.
In the September/October issue of ABA Bank Compliance, the authors address the importance of establishing internal monitoring systems for servicing. The article includes a comparison of quality assurance and quality control as well as considerations for reporting results and exceptions, the regulatory change control process for servicing, servicing transfers and loan boarding, and managing consumer… Read more »
On July 17, Tracey Levandoski and Jim Treacy presented a webinar for the Northern California Compliance Association (NICA) about TRID, including TRID challenges, common regulatory findings and recent TRID updates.
In this article, published in the Summer 2020 issue of ACUMA Pipeline, Patti Katzban and Liza Warner discuss the best practices for credit unions in vetting financial technology partners (fintechs) to optimize the overall mortgage experience. There are many risks to consider and decisions to be made. Learn more about the key considerations from these… Read more »
A part of the ABA’s Risk and Compliance Virtual Conference, July 28-30, Karen Cullen participated in an on-demand webinar regarding how servicers can manage the risk of fair lending and UDAAP concerns as they navigate through the COVID-19 national emergency and its aftermath. Karen was joined by Greg Schwager, Senior Counsel, PNC Bank. The panel… Read more »