With all of the new rules and enhanced compliance responsibilities from the CFPB and other regulators, lenders are tasked with assuring that policies and procedures are current and up to date. In addition, they must also demonstrate that all employees with consumer contact are fully trained and have access to these policies.
Responding to the needs of lenders, Diehl created a system that allows Compliance Departments to have a "CFPB Ready Program" by building a compliance training calendar, tracking the attendees' time in each course, and the post-course test results. Policies and Procedures can also be loaded and stored in this system allowing staff access anytime, and tests can be designed around them to measure retention of the key elements that apply to on-the-job compliant behavior.
With Diehl University, a lender can know the complete level of training and compliance of their staff. Compliance Managers can also "prove it" by showing regulators a full training calendar for the year ahead, and print records for past trainings and their results.
The learning management system (LMS) is cost effective even for smaller lenders. It comes with 26 courses ready to deploy and can be branded with your company logo and colors. Current courses in our library include Qualified Mortgage (QM) / Ability to Repay (ATR), The Higher Priced Mortgage Loan(HPML) and High Cost Mortgage Loan(HCML), The New Escrow and Appraisal Rules, Loan Originator Compensation, Identifying Red Flags, Anti-Money Laundering (AML), Bank Secrecy Act (BSA), and more.
Contact me or any of my team to take a 15 minute webinar trip inside the system and see how you can handle the training and record keeping portion of your regulatory compliance with ease and cost effectiveness.
Be prepared and be "CFPB and Regulator Ready" today.
Scott Weghorst, President of Diehl and Associates