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.
According 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.