Residential mortgage lenders take note: The August 13, 2012 deadline for compliance with the new anti-money laundering (AML) and suspicios activity report (SAR) final rule is fast approaching.
Prior to this date, only depository banks were required to establish AML programs and file SARs. Now, under the newly expanded regulation, all lenders, mortgage brokers, and bankers must adhere to there practices.
To help ensure your organization’s compliance, the California Association of Mortgage Professionals will offer a comprehensive; one-hour training webinar to help your company understand what is required. This new expanded regulation applies to every single non-bank mortgage brokerage and mortgage lending company, regardless of size. The mandatory compliance deadline is August 13, 2012. By this date or sooner, you must:
- perform an AML risk assessment;
- implement a written AML Program, including policies and procedures;
- train employees on AML;
- develop a training program for ongoing AML training and tracking of new employees;
- conduct and keep records of annual AML training; and
Sound like a lot? No worries! We will help you get your questions answered and make sure you are doing all you need to do to be compliant.
Join CAMP for this FREE Compliance Webinar
When: Wednesday, July 18, 2012
Time: 11:00 AM PDT
Where: Online Webinar
Cost: FREE – Brought to you by the California Association of Mortgage Professionals
Register Here: https://www1.gotomeeting.com/register/667606489
About the Speaker
Theresa Ballard currently serves as compliance consultant and quality control trainer to many organizations including AllRegs, carious State and Federal Auditing Agencies. Theresa is the CEO of BFO Solutions, a compliance company offering compliance audits, post-secondary closing audits, loan delivery and loan guarantee services. Theresa has had a long and distinguished career in the mortgage and finance industry and is recognized as an industry expert in federal compliance. Theresa’s experience includes being a certified FHA Credit Examiner (NAMP®-CFCE) and FHA Direct Endorsement Underwriter. BFO Solutions provide Quality Control Audits in accordance with FHA and Agency requirements. BFO Solutions works with organizations to assist with their state and federal audits.