DALLAS, TX (January 20, 2014) -- Having an unprecedented number of new mortgage lending regulations implemented in 2014, 2015 is going to be the year to see if everybody is in compliance with the new rules – or simply doing it right. Mortgage solutions provider CU Members Mortgage knows this situation all too well, which is why the company has invited lending expert Ashfield & Associates President Tracy Ashfield to its upcoming National Mortgage Lending Conference in Dallas, TX, March 2-3, 2015. Ashfield’s presentation, “Preparing for a Successful Mortgage Audit,” will provide an in-depth look at the latest policies, as well as how to work with examiners in case there’s an issue.
“This is all new to us and the regulators,” admits Ashfield. “We’re all drinking from the same fire hose of thousands and thousands of pages of regulations incurred last year. It’s important that we all work together to reach the same goal, which is to provide members with the best services possible the right way.”
The secret, according to Ashfield, is to remain consistent and vigilant all year long monitoring and tracking your mortgage lending efforts. When its time for an audit, you’ll be prepared so there won’t be any surprises during the meeting.
“Overall, there’s a need for good, open communication as we all navigate these uncharted waters,” she says. “Being proactive with these preparation activities is key.”
In addition, if you don’t agree with the examiner during the audit, Ashfield says don’t panic and don’t get argumentative. Stop and look at the issue from their perspective and address it from there for a common solution.
“Try to see the issue through their lens and make sure you both are aligned in your goals,” she says. “Again, 2015 is the year we are looking at these new regulations and asking: ‘What are we doing? Are we doing this right?’ This is what we’ll be covering during CU Members Mortgage’s conference in March. Should be very enlightening for attendees.”
“We are anticipating a highly-engaging and informative presentation from Tracy Ashfield,” CU Members Mortgage Senior Vice President Linda Clampitt says. “She never fails to deliver and this year with everything being so new, it should be a session to remember and take back many, many practical tips to handle the proverbial audit hurdle. Follow Tracy’s advice and she will turn a sometimes arduous audit event into a cooperative and productive meeting.”
About Ashfield & Associates
Ashfield & Associates provides consulting and training services to help credit unions with mortgage lending strategy, development, policies, product design, training and strategic planning. Company President Tracy Ashfield also works with the NCUA to provide training and education on residential mortgage lending for examiners and regulators. She is a frequent featured speaker at credit union conferences. For more information, visit: www.ashfieldandassociates.com.
About CU Members Mortgage
Founded in 1982 as a division of Colonial Savings, Dallas-based CU Members Mortgage provides comprehensive mortgage services to more than 1,000 credit unions, CUSOs, and leagues nationwide. CU Members Mortgage originates more than $2 billion in FHA, VA, and conventional loans each year. With a portfolio of $25 billion, it is one of the largest servicers of mortgage loans in the United States. Advanced technology, including a dedicated website with an online mortgage application that delivers confirmation in minutes, makes CU Members Mortgage one of the industry’s leading resources for mortgage services. The company is privately held and has branches located nationwide. For more information, visit: www.cumembers.com.