Are you attending CUNA’s Regulatory Compliance School in Chicago next month?
PolicyWorks has teamed up with CUNA to provide a seminar before and after Regulatory Compliance School (RCS) this September.
Prior to the start of the school take a dive into marketing compliance and get hands-on experience applying marketing regulations to advertisements. Through this seminar you will:
- Gain an understanding of the basic marketing regulatory requirements
- Discuss specific regulatory provisions and the disclosures required
- Take a close look at marketing requirements for loan products and deposit products
- Delve into other product marketing issues
- Apply what you’ve learned to specific ads
- Review your credit unions ads – submit prior to seminar
- Explore websites and learn common problem areas to avoid
After an amazing week, why let it end?! Join my colleague, Michael Christians for a post-conference seminar. He will be presenting a SAFE Comprehensive Mortgage Loan Course. The new rules issued by the CFPB pursuant to Dodd-Frank amended Regulation Z and now require a loan originator to receive periodic training. This training must cover Federal and State law requirements that relate to the individual loan originator’s origination activities. What training will meet the standards to satisfy the rule?
The rule is not specific about how much or what type of training is enough, but the rule provides a safe harbor. The rule indicates that one way to obtain a safe harbor is for the MLO to receive training approved by the NMLS for continuing education. You can obtain this safe harbor through attendance at the CUNA NMLS approved comprehensive mortgage training course. This course covers the following:
- Regulation Z (Truth-in-Lending)
- Regulation X (RESPA)
- Regulation B (Equal Credit Opportunity Act)
- Fair Housing Act
- Regulation C (Home Mortgage Disclosure Act)
- Adjustable Rate Mortgages
- Federal Housing Administration (FHA) and Veterans Administration (VA) loan programs
- Reading and Understanding Credit Reports & Scores / Fair Credit Reporting Act (FCRA)
This course was designed to meet the continuing education requirements of the SAFE Act inclusive of (3) hours federal laws & regulations, (3) hours ethics, consumer protection & fair lending, and (2) hours lending standards for the non-traditional mortgage product marketplace.