S.A.F.E. Act - Auditing for Compliance

Recorded on September 16, 2014   |   With Patricia Cashman

S.A.F.E. Act - Auditing for Compliance

With Patricia Cashman
  • 1 Video
  • 2.0 hrs
Course description

The Dodd-Frank Act and the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) made fundamental changes to the mortgage lending process. Those changes included establishing strict licensing and registration procedures for mortgage loan originators. One of the many requirements under this act is that an independent audit be performed on an annual basis.

This session will provide you with sample audit procedures for these areas:

  • Who should be registered - Which employees meet the definition of "mortgage loan originator"
  • Initial & subsequent registration process - Forms, background checks, fingerprinting, submission
  • Fees - Who pays what
  • Company account set-up - Set up documentation and account administrator
  • Policy & Procedures - What must be included
  • Unique Identifier - When required
  • Third Party Provider Due Diligence - Contract reviews
  • Training - Who & how often
  • Compliance auditors who want to fully understand the why and how of a S.A.F.E. Act audit;
  • S.A.F.E. Act administrators who want to know what the auditors and examiners will be testing and how to properly document for compliance issues;
  • Compliance officers can use this as a training tool for personnel responsible for the S.A.F.E. Act program

Course Curriculum

S.A.F.E. Act - Auditing for Compliance
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Regulation Z - SAFE Act Worksheet
Policy and Procedures Worksheet
Registration Work Program
Transaction Testing Worksheet
Questions and Answers
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Patricia Cashman
Patricia Cashman
Partner, Cashman Compliance Solutions, LLC

Patricia Cashman is a partner in Cashman Compliance Solutions, LLC. She is responsible for consumer compliance reviews, Bank Secrecy Act (BSA) and Anti-Money Laundering reviews, and compliance and BSA training.

Patricia began her banking career in 1969. She has been the senior operations officer for three Dallas-Ft. Worth area community banks, an assistant examiner for the Texas Department of Banking and managed the compliance/internal audit division of TIB - The Independent BankersBank, one of the largest bankers' banks in the country.

Additionally, Patricia has spoken as a webcast/teleconference presenter for the American Bankers Association (ABA), BankersOnline (BOL) and the Center for Financial Training (CFT), taught a variety of compliance subjects for the Texas Bankers Association (TBA) and ABA at their respective Compliance Schools. She also serves as a BOL GURU and been a speaker/trainer for numerous banks and compliance organizations.