RC_RC_GO_411.1 Preparing for Regulatory Exams for Compliance Professionals
The Preparing for Regulatory Exams for Compliance Professionals course helps prepare students for a CFPB examination by covering topics from the CFPB Supervision and Examination Manual that are relevant to residential lending, as well as providing information on how the CFPB prepares for and conducts examinations. This course, though intended to be useful to all mortgage market participants, is primarily aimed at non-bank market participants. While the course focuses on CFPB exams, the best practices detailed here can be applied to other types of regulatory exams and audits that lenders may face.
This course begins by providing background on CFPB exams, including its approach and priorities, types of exams, and information about who's who in CFPB examinations. It continues with an overview of the exam process. The course discusses how the CFPB will examine a lender's compliance management system and exam procedures for mortgage origination and mortgage servicing.
Preparing for Regulatory Exams for Compliance Professionals is robust course with a great deal of detailed information and several practice exercises, so please plan your study time accordingly. The average completion time is between five and six hours. We advise allowing an hour or two for each of the main sections and completing the course over a few days. It is not expected or advised for people to complete the course in one sitting.
This is a single-family/residential course.
- Introduction to CFPB Examinations
- Components of a CMS
- CFPB Examination Process
- Compliance Management System
- Mortgage Origination Examination Procedures
- Mortgage Servicing Examination Procedures
Seat time approximately 5.5 hours.