AllRegs has released a Federal Compliance Policy Manual, a 63-page template the company says is ready for personalization and insertion of company-specific policy information.
‘From ECOA to FCRA, MDIA to RESPA, mortgage companies need to understand the federal laws that impact their day-to-day business,’ explains Dan Thoms, senior vice president for AllRegs. ‘The Federal Compliance Policy Manual is a turnkey solution that provides a summary of 12 key federal regulations, including definitions, general requirements, forms and disclosures, prohibited actions and more.’
The 12 federal regulations in the manual are the Equal Credit Opportunity Act, the Fair Housing Act, the Fair Credit Reporting Act, the Fair and Accurate Credit Transactions Act, the Flood Disaster Act, the Home Mortgage Disclosure Act, the Homeowners Protection Act, the Real Estate Settlement Procedures Act, the Service Civil Relief Act, the Mortgage Disclosure Improvement Act, the Truth in Lending Act and regulations for higher-priced mortgages.
"You can personalize our template to suit your company, and you can easily add, delete and update your plan to suit your changing compliance needs," Thoms adds.