Mortgage Acts and Practices (MAPS) Compliance 

Unless you are specifically exempted from FTC oversight anyone subject to MAPS should be aware of this law and its requirements.  The FTC and State authorities can use this weapon to seek civil penalties for anyone caught using deceptive mortgage advertising.  This rule encompasses mortgage lenders, mortgage brokers, servicers, real estate agents, advertisers, brokers, builders, lead generators and more and companies should be certain their staff are appropriately trained on the rules to avoid penalties and/or fines.

This 17-minute course will highlight key components of the Mortgage Acts and Practices Act, also known
as Regulation N. This course will also introduce you to the purpose of this law, as well as provide
examples of what may constitute a potential violation, in order to help mortgage professionals
avoid potential fines and penalties when advertising. Topics covered Include:

• The History of & Need for Regulation N;
• Key Terms;
• Prohibited Representations;
• Recordkeeping Requirements; and
• Identifying Potential Violations;

 

Fair Lending Laws Compliance Course

Compliance with Fair Lending is not just a good suggestion, it’s the law! In fact, Fair Lending consists of several different laws and is an integral part of any company training program. Banks, Lenders and anyone who offers credit to consumers are responsible for effectively training their staff and will be tested throughout any compliance review on whether or not they have an effective strategy and training program for all employees involved with any aspect of retail lending which may include customer service, origination, processing, underwriting and compliance. 

This 30-minute Fair Lending Compliance Course is a great start to protecting your organization from compliance nightmares relating to Fair Lending Violations based on improper training of staff.  This course is setup to provide learners with an understanding of Fair Lending laws and regulations that influence the treatment of customers. This course covers the following topics:

o The Origins and Purpose of Fair Lending Laws;

o How Fair Lending Laws are Enforced;

o The Fair Housing Act;

o The Equal Credit Opportunity Act;

o Types & Warning Signs of Lending Discrimination;

o The Home Mortgage Disclosure Act;

o The Community Reinvestment Act;

o The Fair Credit Reporting Act;

Once complete, learners may access a printable course completion certificate to maintain for their training records.

 

GLB Safeguard Rule & Information Security Compliance

The Gramm-Leach Bliley Act was amended to provide greater protection for private customer information.  This course explains the GLB Safeguard rules, how they affect you and your organization, as well as provide you with details on how to develop an information protection program that is compliant with the FTC’s tough new standards.  Avoid the costly fines by being proactive in developing your company’s privacy policies.

 

Loan Originator Compensation Compliance Course

 

This course will focus on the Loan Originator Compensation
Rule, or LO Comp Rule for short, which is Part of Regulation Z of the
Truth-in-Lending Act. This course should help bring clarification to key
regulatory issues and help keep you compliant.  Topics covered include:

o   What
the LO Comp Rule Accomplishes;

o   What
is Compensation;

o   Compensation
Provisions;

o   Record
Retention;

o   Essential
Aspects of the Rule;

 

 

Key Components of the SAFE Act Compliance Course

 

Mortgage loan originator
licensing was created specifically in Title 5 of HERA. Title 5 is the Secure
and Fair Enforcement for Mortgage Licensing (SAFE) Act. The intent of the SAFE
Act was to help bring long-term stability to the lending industry by
establishing uniform standards for licensing and education standards of
mortgage loan originators across the country. The reason for this was to
protect borrowers from unethical loan officers and/or risky loans, which contributed
to the subprime crisis.

This course will focus on key components of Title 5 of HERA, the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, such as:

• Increased training requirements to originate loans;
• A uniform licensing exam;
• The development of a centralized database called the Nationwide Mortgage
  Licensing System & Registry (NMLSR);

 

 

HMDA & Regulation Z Compliance Course

 

In this course we will give an introduction to two different federal
laws that are essential to mortgage professionals that help protect borrowers.

1.    The Home
Mortgage Disclosure Act (HMDA);

2.    Regulation Z,
The Truth-in-Lending Act (TILA);

 

We will also discuss the need
for such legislation and what mortgage professionals must do to comply with
both laws. Topics covered include:

o   What
is HMDA?

o   HMDA
Reporting;

o   Using
HMDA Data to Identify Lending Discrimination;

o   The HMDA-LAR;

o   Changes
to HMDA in recent years;

o   HMDA
Disclosures;

o   History
of TILA & Reg Z;

o   Regulation
Z Protections for Borrowers;

o   Regulation
Z & HMDA’s Connection;

 

Guidance on the Telephone Consumer Protection Act

 

 

 

The Telephone Consumer Protection Act was enacted in 1991 to
address the growing number of telemarketing calls. The TCPA restricts the
making of telemarketing calls and the use of automatic telephone dialing
systems and artificial or prerecorded voice messages. The rules apply to common
carriers as well as to other marketers, including mortgage marketing. If you have telemarketers on staff, it would be wise
to make sure you are training them on the TCPA rules in the face of a CFPB
audit.

In this 20-minute course we will cover:

·
The Do-Not-Call Registry;

·
Prohibited Acts under TCPA;

·
Who is Exempt from TCPA requirements;

·
Retention of DNC records;

·
Violations of TCPA;

·
How the TCPA applies to text messaging;

 

 

 

Fair Lending Compliance

Compliance with Fair Lending is not just a good suggestion, it’s the law! In fact, Fair Lending consist of 5 different laws and is an integral part of any company training program. In 2010 under the Dodd-Frank Act, Congress gave the Consumer Financial Protection Bureau (CFPB) authority over large banks, mortgage companies, and other businesses that offer credit and charged them with responsibility for ensuring “fair, equitable, and nondiscriminatory access to credit”. As a result, the CFPB published an examination manual that mentions the words ”Fair Lending” 116 times throughout the examination manual.

According to a CFPB source who spoke at the NMLS annual conference, “….the CFPB focus for examinations will be based on risk to consumers…we will look heavy at Fair Lending Review and HMDA data integrity…”

Banks, Lenders and anyone who offers credit to consumers are responsible for effectively training their staff and will be tested throughout any compliance review on whether or not they have an effective strategy and training program for all employees involved with any aspect of retail lending which may include customer service, origination, processing, underwriting and compliance.

This Fair Lending Compliance Course is a great start to protecting your organization from compliance nightmares relating to Fair Lending Violations based on improper training of staff. It covers all 5 laws associated with Fair Lending, and provides multiple cartoon based case studies for learners to remain engaged in the course content. In addition, once complete, learners may access a printable course completion certificate to maintain for their training records. My Mortgage Trainer suggest students take an update to the Fair Lending Course as well as the Anti-Money Laundering course required under FinCEN on an annual basis.

“The CFPB’s Office of Fair Lending and Equal Opportunity, together with the Bureau’s Office of Enforcement, leads the Bureau’s enforcement of fair lending laws, including the ECOA and the Home Mortgage Disclosure Act (HMDA).”^* “The Justice Department’s enforcement of fair lending laws is conducted by the Fair Lending Unit of the Housing and Civil Enforcement Section in the Civil Right Division. Since the Fair Lending Unit was established in February 2010, it has filed or resolved 22 lending matters under the Fair Housing Act, the ECOA and the Servicemembers Civil Relief Act. The settlements in these matters provide for a minimum of $500 million in monetary relief for more than 300,000 individual borrowers.”^*

^*As quoted from the CFPB web site.

 

The Gramm-Leach Bliley Act was amended to provide greater protection for private customer information.  This course explains the GLB Safeguard rules, how they affect you and your organization, as well as provide you with details on how to develop an information protection program that is compliant with the FTC’s tough new standards.  Avoid the costly fines by being proactive in developing your company’s privacy policies.

 

Mortgage Acts and Practices (MAAPS) 

Unless you are specifically exempted from FTC oversight anyone subject to MAAPS should be aware of this law and its requirements.  The FTC and State authorities can use this weapon to seek civil penalties for anyone caught using deceptive mortgage advertising.  This rule encompasses mortgage lenders, mortgage brokers, servicers, real estate agents, advertisers, brokers, builders, lead generators and more and companies should be certain their staff are appropriately trained on the rules to avoid penalties and/or fines.

This course covers the rule in a short 15 minute review of the law and provides a completion certificate for students who take the course and pass a short assessment that acknowledges their understanding of the content being presented.

This course is also part of our Compliance Pack of Courses for companies needing a full compliance training solution.