heard on the street
For more information, visit www.lendersone.com or www.allregs.com. continued from page 10
example, the borrower and co-borrower can no longer e-sign simultaneously. Once one borrower completes and is confirmed for the e-signing process, the co-borrower(s) will then be able to start the next e-signing process. Before borrowers can view loan disclosures and documents, they must review an e-disclosure agreement. This ensures that the borrower consents to receiving certain disclosures in electronic format rather than in paper form. Borrowers are also required to review each page of Wells Fargo Funding’s disclosure package before they can e-sign and accept the terms of the documents. “Borrowers must click on a signature point at the bottom of each page before they can proceed to the next one, and if they try to skip a page, there are error prompts that inform the borrower that a signature or initial point was missed,” said Corr. “This helps ensure that borrowers review each and every page of the disclosure package.” For more information, visit www.elliemae.com.
Lenders One and AllRegs partner for compliance solutions
CMPS Institute and Mortgage Coach create Certified Mortgage Coach certification The Certified Mortgage Coach certification course was recently created as a joint venture between the CMPS Institute and Mortgage Coach to help loan originators stand out from their competition and make more effective sales presentations to clients, prospects, and referral partners. “This is the all-inclusive online training, testing, and software solution that the mortgage industry has been wait-
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Lenders One Mortgage Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services, has announced a partnership with AllRegs, an information provider for the mortgage industry, as its newest preferred vendor. “Compliance training and education are a vital part to the success of any mortgage banker in this market,” said Scott Stern, chief executive officer of Lenders One. “Consistent modifications to state and federal legislation, as well as recurring new regulation, can threaten the profitability and the effectiveness of any lender if not proactively confronted. Teaming with AllRegs, our members have access to the comprehensive knowledge and preparedness tools they need to be well-informed and compliant with guidelines at any level.” AllRegs provides a searchable, online information resource of federal and state statutes, with analysis, commentary and how-to manuals. Lenders One members will benefit from AllRegs’ diverse compliance training programs and the ability to access a central repository for single and multifamily underwriting and insuring guidelines, as well as federal compliance laws and regulations. AllRegs Academy’s compliance training programs focus on issues such as the Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Home Mortgage Disclosure Act (HMDA), Federal Housing Administration (FHA) updates and other
federal topics regulations. Courses are delivered via instructor-led and selfstudy online learning courses, classroom programs, audio conferences, certifications and more. “We are very excited to partner with Lenders One and help its members meet their compliance, underwriting and training needs,” said Dan Thoms, senior vice president for AllRegs. “The companies comprising the Lenders One membership want to stay apprised of federal and state regulatory changes. AllRegs’ tools, services and resources support this mission-critical requirement in the industry.”
ing for,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that trains and certifies mortgage bankers and brokers. The new Certified Mortgage Coach program is the mortgage industry’s latest solution to help homeowners and buyers better evaluate their mortgage options and make smart financial choices. “Today’s consumer does not want to be sold; they want to be educated,” said Nicholas. CMPS Institute provides the training and testing, and Mortgage Coach provides the software and real-time market information to help mortgage professionals better educate their clients. “Our goal is to help homeowners
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