Scenes from CUNA Lending Compliance School

Photos from the compliance training event in Las Vegas, June 14-18.

The CUNA Lending Compliance School allows CUs to protect their loan growth by developing a thorough understanding of the current lending compliance environment.

ONeill650_LCSAccording to Tom O’Neill, Fannie Mae’s credit risk manager for loan quality, credit unions should have documented quality control plans that:

  • Outline requirements for validating that loans originate in accordance with established policies and procedures.
  • Have loan file reviews that are conducted before and after the loans are funded.
  • Contain pre-funding, post-closing, and discretionary review information, and final defect rate and resolutions.
  • Are useful and concise.
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