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Credit Union National Association (CUNA) and PolicyWorks, a credit union compliance firm, have partnered to create two mortgage lending compliance solution packages for credit unions: CUNA Mortgage Compliance Implementation Toolkit and ComplyRight Mortgage Compliance Solution. These resource bundles are designed to facilitate the management and implementation of the new mortgage compliance regulations and updates affecting the credit union movement. Read more


DES MOINES, IA (July 2, 2013) In conjunction with credit union compliance firm PolicyWorks, the Credit Union League of Connecticut is providing compliance training for member credit unions. A dues-based service, the training takes the form of live webinars on critical compliance training for credit union employees concerning federal regulations. Read more


Review mortgage lending policies and procedures to ensure compliance with new Reg Z amendments. Read more


The Ohio Credit Union League said Thursday it will be offering its 365 credit unions preferred pricing on ComplyRight compliance services solution from PolicyWorks LLC of Des Moines, Iowa. Read more


St. Louis Community Credit Union has contracted compliance firm PolicyWorks to help execute the credit union’s strategic compliance program. Read more


Through a new partnership with PolicyWorks, Alliant Credit Union will have access to onsite compliance training. Read more


New CFPB rules change the definitions and coverage of two types of mortgages. Read more


Regulatory compliance firm PolicyWorks today announced the availability of ComplyRight, a full-service, comprehensive compliance solution for credit unions. In partnership with PolicyWorks, sister company The Members Group (TMG) will offer ComplyRight to its credit union clients at a significantly reduced price. Read more


According to Andrea Stritzke, vice president of regulatory compliance for the Des Moines-based compliance firm PolicyWorks, the bureau contacted her organization in advance of the hearing announcement, inviting it and Iowa credit unions to attend the hearing and participate in a roundtable on the topic the previous day. Read more


Shore up current compliance procedures before new rules take effect. Read more


Does CFPB's new 'ability to repay/qualified mortgage' rule apply to my credit union? Read more


WASHINGTON (2/27/13)--Credit unions are facing a barrage of new Consumer Financial Protection Bureau mortgage regulations, and the first step in dealing with these regulations should be credit union staff education, panelists at a Tuesday Credit Union National Association Governmental Affairs Conference session said. Read more


"Mortgage loan changes that have come and other changes that may be coming have kept credit unions in limbo or a state of transition," says Jeff Andersen, an attorney with PolicyWorks, a regulatory and compliance consulting division of the Iowa Credit Union League. "It can be a bit of a juggling act." Read more


One analysis firm is noting that even if a credit union services fewer than 5,000 loans-the threshold for complying with the CFPB's more than 1,800-pages of regulations on mortgage servicing-it will still be subject to the new rules if it uses a master servicer whose total volume exceeds the threshold.

And that's just one of the challenges the new rules is presenting to credit unions that offer mortgages to members, according to PolicyWorks, a consultancy that works with CUs on regulatory compliance and government/public affairs. Andrea Stritzke, VP of regulatory compliance for the firm, and Jeff Andersen, regulatory counsel, told Credit Union Journal for starters, the new rules will be a drain on resources-human and capital. Read more


Credit Unions Already Generally Abide by CFPB's New Qualified Mortgage, Ability-to-Repay Rules Read more


Andrea Stritzke, vice president of regulatory compliance for the Des Moines, Iowa-based compliance firm PolicyWorks, said the proposed rule eases the 43% debt-to-income ratio requirement for qualified mortgages for small lenders that fund fewer than 500 mortgages per year. Read more


In a new white paper “How the CFPB Will Impact Your Community Financial Institution in 2013,” co-authors Dan Lozier, The Members Group director of client relations, and Jeff Andersen, PolicyWorks regulatory counsel, point out how the Consumer Financial Protection Bureau (CFPB) will soon have significant say in how small financial institutions (FIs) interact with their consumers. Read more


A fair lending policy isn’t enough to constitute a compliance program. By Andrea Strizke, PolicyWorks VP, regulatory compliance Read more


Although the Consumer Financial Protection Bureau has heavily focused on mortgages since its inception, credit and debit cards are likely to become a priority for the agency, according to a new white paper from The Members Group (TMG) and PolicyWorks. Read more


Article by PolicyWorks' Jeff Andersen on the regulatory and compliance concern facing credit unions as they work to implment mobile banking features like remote deposit. Read more

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