"Keeping up" is the most common training goal for compliance and lending personnel. Since the late 1960's, the steady stream of new consumer laws and regulations has been continuously supplemented by revisions of previously issued regulations. Often, compliance errors occur simply because the lender was unaware of the change. 2018 was expected to bring a slowdown in the volume of compliance changes. The Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA), which was advertised as reducing burden, will keep compliance personnel busy for months to come. And EGRRCPA was not the only change in the lending compliance arena this year. 2018 was also a big year for TRID and HMDA changes.
Development a plan to implement pending changes.
Revised Uniform Residential Loan Application (1003).
EGRRCPA amends rules for identity fraud, security freezes, medical debt, and creates a rehab program for delinquent student loan borrowers.
WHO? This program is designed for compliance officers, loan officers, auditors and others who are familiar with the basic requirements of the covered regulations.