(ON DEMAND) Annual MLO Compliance Requirements & Auditing for SAFE Act

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While compliance with the SAFE Act has been in place for several years, there are still questions about which activities constitute mortgage loan origination and how mortgage loan originators (MLOs) may be compensated. In addition, SAFE Act violations are starting to show up in audit reports (inaccurate registry data, poor documentation on MLOs). Examiners have cited lack of annual audits and/or weak annual audits. Now is the time to refocus on SAFE Act compliance requirements and the components of a strong annual audit.

This session will cover three important compliance components:
Annual SAFE Act compliance requirements
How to conduct a thorough SAFE Act annual audit
How the SAFE Act correlates to the Loan Originator Compensation Rule

HIGHLIGHTS
Review the technical requirements of the SAFE Act
Checklist for required documentation to be retained and tracked (e.g., background checks, loan officer authorization and attestation forms, registry confirmations, training, etc.)
Steps for the annual audit – request memo, audit checklist, and report format
Compliant methods for compensation for MLOs

TAKE-AWAY TOOLKIT
SAFE Act fact sheet
Sample audit procedures
SAFE Act policy checklist
Tracking spreadsheet for your MLOs
Employee training log
Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND? Compliance officers, auditors, and MLOs. It will also be a good review for all lending staff.

ABOUT THE PRESENTER – Ann Brode-Harner, Brode Consulting Services, Inc., began her career in 1973 and has continued her service as a consultant to regional and community financial institutions through a wide range of areas including strategic planning, lending, deposits, marketing, training, compliance, and management. Ann is a well-respected presenter and has spoken to audiences across the country for over 25 years. She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin as well as many other state banking schools. Ann is the author of “The Bank Deposit Documentation Manual for Front-Line Personnel” published by Bankers Publishing Company, and is well represented in numerous industry publications.