Holtmeyer & Monson, posted a resource Posted1 day AGO Stay up to Speed. Get our latest Newsletter! https://www.holtandmon.com/newsletter/ Regulatory updates. Hot Topics. Expert advice on SBA and USDA lending. Holtmeyer & Monson's newsletter will help you stay in the know and compliant. Read more
Capco, shared an update Posted3 days AGO The Shield & the Sword: How the Three Lines of Defense Allow You to Avoid the Pain of Self-Reporting by Becky Breland, J.D., Principal Consultant, Regulatory Advisory Services Sometimes it is better to use your shield before falling on your sword. A large regional bank in the Southeast recently learned that lesson. The Federal Reserve Board imposed a staggering fine, of approximately... Read More The Shield & the Sword: How the Three Lines of Defense Allow You to Avoid the Pain of Self-Reporting by Becky Breland, J.D., Principal Consultant, Regulatory Advisory Services Sometimes it is better to use your shield before falling on your sword. A large regional bank in the Southeast recently learned that lesson. The Federal Reserve Board imposed a staggering fine, of approximately $2.95 million for unsafe and unsound practices in the bank’s flood insurance compliance program and for flood insurance regulatory violations. The bank agreed to the fine, without admitting or denying the allegations, on August 14, 2023. This is even though the bank self-reported the violations with respect to not effectively monitoring a significant number of home equity loans and home equity lines of credit. According to a spokesman for the bank, “We took corrective action and remediated the issue by 2017. There was no customer impact as the matter was confined to our own internal monitoring of flood insurance policies on certain properties.” Is Self-Reporting Still Beneficial in 2023? Sometimes, we have to fall on our sword. Regulatory Advisory Services has long advocated when financial institutions identify regulatory violations during their monitoring processes, to self-report to their primary regulator that the violations were discovered and that, as applicable, corrective measures were undertaken to remedy those violations and prevent future violations from occurring... Read More Read Less
Wolters Kluwer, posted a resource Posted4 days AGO Is your mortgage lending built on a solid foundation? https://www.wolterskluwer.com/en/know/is-your-mortgage-lending-built-on-a-solid-foundation Build an exceptional process on the rock-solid foundation of Wolters Kluwer. Learn more about how we help mortgage professionals Read more
nCino, shared an update Posted10 days AGO VeraBank Achieves Faster Time to Value with nCino VeraBank, a community bank headquartered in Henderson, TX, partnered with nCino to modernize lending processes and streamline employee and customer experiences. VeraBank Achieves Faster Time to Value with nCino VeraBank, a community bank headquartered in Henderson, TX, partnered with nCino to modernize lending processes and streamline employee and customer experiences. Read Less
nCino, shared an update Posted10 days AGO Honor Bank Successfully Deploys nCino's Commercial Banking Solution nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that Honor Bank, a full-service community bank in Northern Michigan, is live on the nCino Cloud Banking Platform. The Bank implemented nCino's Commercial Banking Solution in just six months. Honor Bank Successfully Deploys nCino's Commercial Banking Solution nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that Honor Bank, a full-service community bank in Northern Michigan, is live on the nCino Cloud Banking Platform. The Bank implemented nCino's Commercial Banking Solution in just six months. Read Less
Venminder, posted a resource Posted11 days AGO The Benefits of Collaboration Between InfoSec and Third-Party Risk Management https://hubs.ly/Q02bbhWP0 Information security (Infosec) and third-party risk management (TPRM) teams are often linked, but they don't always have strong partnership between them. Interaction between ... Read more
nCino, shared an update Posted12 days AGO 5 Things to Consider When Choosing a Digital Mortgage Vendor Choosing the right digital mortgage vendor can feel daunting. Mortgage lenders must consider not only their own business needs, but also federal regulations that impact how they manage and access their borrowers’ data. In an increasingly tech-heavy mortgage environment, lenders are navigating new digital solutions to fix... Read More 5 Things to Consider When Choosing a Digital Mortgage Vendor Choosing the right digital mortgage vendor can feel daunting. Mortgage lenders must consider not only their own business needs, but also federal regulations that impact how they manage and access their borrowers’ data. In an increasingly tech-heavy mortgage environment, lenders are navigating new digital solutions to fix old problems. Read Less