Building Your Defenses: Compliance Management for First-Line Operations
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 »
We Are Change Leaders
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 »
How to Harness Your HMDA Data
On Thursday, April 27th, Heidi Wier and Ryan Addabbo will be 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. Tune into this webinar to learn all the prospective opportunities with what you can… Read more »
MBA Course – Managing Consumer Complaints for Compliance Professionals
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 »
MBA HMDA Courses Available – MBA’s CMCP Curriculum
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 Healthy is Your Fair Lending Program?
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 »
Flood Insurance Webinar
On Wednesday, March 22nd, 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 »
American Bankers Association (ABA) Reference Guide to Flood Compliance
CrossCheck Compliance would like to acknowledge our colleague, Sara McGinnis, CRCM, CAMS, CAFP for her work writing the 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 a new manual… Read more »
ABA Bank Compliance – Closing the Gap
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 »
ABA Bank Compliance – Buckle Up! Indirect Automotive Fair Lending Risks 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… Read more »
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… Read more »
California MBA – Legal Issues and Regulatory Compliance Conference 2022
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 »
ABA Bank Compliance – 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… Read more »
MBA Webinar – Ensuring HMDA Data Integrity and Common Reporting Issues
On December 14th, 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… Read more »
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 Annual Conference 2022
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.
Utah Bankers Association Compliance Conference – Fair Lending Presentation
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 Compliance Conference – UDAAP Panel
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 »
Consumer Financial Services Conference
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 »
MBA Regulatory Compliance Conference – RegTech Panel
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 »
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… Read more »
Third-Party Relationships Presentation
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 »
Effective Internal Audit Function – Beyond the Basics
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 »
ABA Bank Compliance – Watch Out: TRID 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… Read more »
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.
ABA Bank Compliance Magazine – 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… Read more »
Central Florida Compliance Association Fair Lending Risks Webinar
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.
Effective Internal Audit Function – Mortgage Bankers Association Webinar
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 »
Oklahoma Bankers Association – Fair Lending Presentation
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 »
Fair and Responsible Lending and Fair Servicing Panel for Chicagoland Compliance Association
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 »
ABA Reference Guide to Regulatory Compliance
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 »
Florida Bankers Association (FBA) Consumer Compliance Seminar
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 »
Wisconsin Mortgage Bankers Association (WMBA)
On 4/7/22, 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.
Avoid Fair Lending Pitfalls – California MBA Webinar
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 »
Highly Successful Compliance Officers – Going Beyond the Regulations
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 »
IBA Bank Counsel Conference
The Illinois Bankers (IBA) held its Bank Counsel Conference on December 3 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 security,… Read more »
Bank Counsel Roundtable – Fair Lending
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 »
Texas Mortgage Bankers Association Mortgage Symposium
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 »
Avoiding UDAAP Pitfalls
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 »
CrossCheck Compliance LLC Announces New Partners
CrossCheck Compliance LLC is pleased to announce that Liza Warner and Todd Krell have been promoted to partners in the firm.
Utah Bankers Association Compliance Conference
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 »
Georgia Bankers Association Compliance Conference
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 »
Best Practices for Monitoring Servicing Performance
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 »
American Bar Association Business Law Section
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 »
Mortgage Bankers Association (MBA) – Regulatory Compliance Conference
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.
Mission Impossible? Overcoming Fair Lending Challenges in Non-mortgage Products
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 Added to Fitch List of Third-Party Review (TPR) Firms
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 »
Compliance Management for First-Line Operations
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 »
Fair Lending Risks in Originations, Servicing and Small Business
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 »
Northern Illinois Compliance Association (NICA) Presentation
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 McGinnis Joins CrossCheck Compliance as Director
“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 »
American Bankers Association (ABA) Regulatory Compliance Conference
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 »
Four Pillars of an Effective HMDA Compliance Program
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 »
Central Florida Compliance Association (CFCA) HMDA Webinar
At the June 17th meeting of the Central Florida Compliance Association (CFCA), Heidi Wier presented a webinar entitled, HMDA: Keys to Successful Data Integrity.
American Bankers Association (ABA) Webinar – Avoiding UDAAP Pitfalls
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 »
Chicagoland Compliance Association (CCA) Bank-Fintech Webinar
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 »
The Compliance-Audit Partnership – ABA Webinar
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 »
Avoiding UDAAP Pitfalls: Recognizing and Addressing Risks in Marketing and Advertising
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 »
Wisconsin Bankers Association Real Estate Compliance School
In March 2021, Jim Treacy taught TRID and ATR/QM for the Wisconsin Bankers Association’s Real Estate Compliance School.
Wisconsin Mortgage Bankers Association
In March 2021 Heidi Wier presented a Compliance Bootcamp for the Wisconsin Mortgage Bankers Association.
Wisconsin Bankers Association Real Estate Compliance School
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.
Fair Lending Consultant – Data Analytics Position Available
CrossCheck Compliance is seeking an experienced professional to join its fair lending team. The location is flexible. For highlights of the position requirements, please download the attached, or for more detail, the full job description can be viewed or downloaded from our careers page.
Promotion of Tracey Levandoski to Managing Director
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.
HMDA: Submit With Confidence, Keys To Successful Data Integrity
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 »
Analyzing Complaints – How to Understand Your Bank’s Complaint Data
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 »
California MBA Legal Issues and Regulatory Compliance Conference
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 »
Managing Consumer Complaints for Compliance Professionals – New MBA Resource
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 »
Combating Current Legal Threats
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 »
MBA’s Mastering HMDA Data for Compliance Professionals Course
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 »
Mortgage Bankers Association (MBA) Regulatory Compliance Conference
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 Added to S&P Global Ratings List of Third-Party Due Diligence Firms
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).
Mitigating Risks of Banking Money Service Businesses
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 »
Best Practices for Choosing a Fintech Lending Partner
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 »
Utah Bankers Virtual Compliance Conference
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.
Utah Bankers Association Compliance Conference – Fintech Compliance Session
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 »
ACUMA Virtual Conference – Quality Control Panel
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 »
American Bankers Association (ABA) Reference Guide to Regulatory Compliance
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. 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.
Avoiding Surprises in Mortgage Servicing
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 »
Common Compliance Findings – TRID & Beyond
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.
Choosing Your Fintech Mortgage Partner Wisely
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 »
Fair Servicing During the COVID-19 Emergency and Beyond
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 »
Subprime Auto Market Webinar
On July 15, Todd Krell was a Special Guest in a subprime auto market webinar offered by the Davis & Gilbert Insolvency, Creditors’ Rights & Financial Products practice group. The focus of this webinar was on how subprime RMBS serves as a roadmap for future subprime auto ABS litigation. Davis & Gilbert speakers included Joseph… Read more »
Monitoring in the Time of COVID-19, Keeping Pace with Change
In the July/August issue of ABA Bank Compliance, Mollie Newsome Sudhoff discusses compliance monitoring in the time of COVID-19. Learn more about the best practices in keeping pace with change, especially in some of the key impact areas.
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) 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!
Common Compliance Findings – TRID and Beyond
On June 18th, 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. For more information about membership in the CFCA, about TRID, or to obtain the recording, please e-mail Mollie… Read more »
Emerging from Quarantine: Unmasking Key Considerations for Small Dollar Lenders
On June 3rd, 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… Read more »
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… Read more »
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… Read more »
Fair Lending Webinar – CFPB’s Focus on Redlining and Marketing Discrimination
On February 19 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… Read more »
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… Read more »
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… Read more »
MBA Webinar – Effective Internal Audit Function: The Fundamentals
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… Read more »
MBA Webinar – Effective Internal Audit Function: Beyond the Basics
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?… Read more »
Health Check of Your Fair Lending Program
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.
Mortgage Women Magazine – Back to School
In the September 2019 issue of Mortgage Women Magazine, Chris Ortigara addresses how women are taking their careers to the next level with a CMB® (Certified Mortgage Banker) designation. She shares not only her own experience, but the experiences of three other very successful women including Jennifer Roe Whip, Christy Moss, and Leora Ruzin. … Read more »
Chicagoland Compliance Association Event at Northern Trust
On December 6th, 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… Read more »
Financial Service Centers of America (FISCA) Money Trends Conference
On Monday, October 21, 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 On The Ocean
November 4-6, 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… Read more »
Illinois Mortgage Bankers Association (IMBA) Mortgage Market Update
On October 25th, 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.