bank compliance – Secure Insight

Successful Risk Management Requires Proper Top-Down Governance

Written on May 31, 2019.

Any organization seeking to adopt appropriate operational risk management policies and procedures must ensure that they have met the five step process to ensure success. This process focuses on proper governance. It...

When a Closing Attorney’s E&O Policy is not Actually Insurance and Why a Lender Should Care

Written on May 8, 2019.

If you are merely collecting a “Certificate of Coverage” on behalf of a closing attorney and passing them through your loan process as meeting your internal risk management protocols you may be in for an unpleasant...

New Attorney E & O Exclusion Exposes Lender Closing Table Risk in Massachusetts

Written on May 3, 2019.

We have noticed that in Massachusetts, insurance carriers providing attorney errors and omissions coverage have been quietly adding a new exclusion to their new and renewal policies. This exclusion is known as the “Disbursement...

NYSAR Reports Up Market for Sales in NY, with No CPL Lenders Face More Purchase Mortgage Closing Table Fraud Risk

Written on April 22, 2019.

Lending in New York? Purchase money business always carries closing fraud risk, however New York business tends to be riskier for many lenders. The state has high average loan amounts, features instrument recording procedures...

US Treasury Department Supports the Expansion of e-Closings and e-Notarizations in Mortgage Industry

Written on August 1, 2018.

Industry publications are reporting that after a period of research and review the US Treasury Department is encouraging lenders and states to pursue e-closing and e-notarization technology to make residential mortgage...

Protecting Borrower Data in An Age of Hacking and Phishing Schemes

Written on June 14, 2018.

“Data privacy” and “data security” are terms most lenders are hearing over and over again these days. The reasons for this are numerous but include federal and state regulator focus on the issue, increased publicity over...

If The Table Starts Rockin’, Who’s Gonna Come Knockin’?

Written on May 30, 2018.

One of the biggest concerns that mortgage lenders have had for years is that they send their mortgage funds and collateral security documents to complete strangers who gather together and manage a process where there is...

CFPB: No More Regulation by Enforcement? An Analysis

Written on May 18, 2018.

According to Mortgage Professional America, the acting director of the Consumer Financial Protection Bureau, Mick Mulvaney, recently told industry leaders that the CFPB will no longer practice “regulation by enforcement.” “The...

Tag: bank compliance