FREDERICK, MD (January 16, 2014) -- The effective date of January 10, 2014 has come and gone for the new mortgage rules, however many financial institutions may not yet be completely prepared.
In an effort to help those charged with compliance, NeighborBench has released the first installment of a two-part mortgage rules self-assessment series.
Part 1 of the Mortgage Rule/Mortgage Servicing Rules Series is designed to help institutions think through each of the new requirements and prioritize where to apply available resources next based on the institution's individual compliance status and risk rating.
Once the self-assessment is filled out, the highest scoring areas would typically be where the institution should next focus its efforts.
The tool is available at no charge by contacting NeighborBench's Mike Lane at mike.lane@neighborbench.com or 1-888-972-3624, ext. 7015.
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NeighborBench's unique compliance solution combines the latest in automated tools with experienced professionals to help reduce the primary challenges of compliance: cost, time, resource requirements, and the disruptive nature of traditional consulting firm solutions. Learn more at www.neighborbench.com.