American Pacific Mortgage Corp. - Las Vegas’ Post

Key Takeaways from FCA review for Consumer credit firms (CCFs) and non-bank mortgage lenders (NBMLs) ◾ There is a need to identify key risks facing the business. Firms failed to fully consider important external risks such as credit, counterparty, liquidity and funding, operational and market risk. ◾Setting Risk Appetite and appropriate controls was a mixed bag. ◾Stress Testing and wind-down planning were inadequate. For stress testing, there was a lack of plausible adverse scenarios for some firms. Will this lead to CCFs and NBMLs hiring permanently or looking at interim solutions to enhance these key areas? https://lnkd.in/dskAWv8r

A UK retail and commercial bank have achieved remarkable outcomes from successfully improving QA oversight while significantly reducing QA costs, by implementing Recordsure's innovative solutions. Recordsure's ConversationAI was used to gain comprehensive oversight of all mortgage conversations, delivering: ➡️ Increased oversight of mortgage sales from <5% to 100% ➡️ Reduced review time for QA by over 50% ➡️ Improved advice standards and decreased complaints ➡️ Reduced QA and compliance costs, leading to substantial long-term savings Discover how Recordsure is transforming QA processes in the banking sector >> https://bit.ly/3AkIS3g #AI #QA #RegTech #Compliance #Recordsure #Banking #Innovation #CustomerExperience #CaseStudy #mortgages

Mortgage Brokers and FINTRAC Rules: Each Mortgage Brokerage will also have to appoint a Chief Compliance Officer and a full compliance program must be implemented. Their work must include: •      Regulatory alerts & management •      Policy development •      Risk Self-Assessment •      Training plans •      Training tracking •      Independent risk assessment calendarized & recordkeeping •      FINTRAC filings calendarization & recordkeeping •      Suspicious, Enhanced Due diligence & reporting management •      FINTRAC filing reporting •      AML/ATF dynamic health check This is a lot of work - will Mortgage Brokers be able to keep this work in-house or will they outsource? Robert Kirwin VigilantCS - Compliance Streamlined Melanie Gagne Brains Capital Strategicly

We save you money. Read that again. We save you money when you outsource settlement agent vendor management, risk monitoring and wire verification processes to us. After 14 years and over 25 Million safe closings, we are the "go to" risk management solutions for banks, mortgage lenders and credit unions. Contact Amanda Padd for a demo today at apadd@secureinsight.com #wirefraud #vendorriskmanagement #vendorrisk #mortgagecompliance #mortgagelending #mortgagesettlement #titlefraud #realestatefraud #mortgagefraud #cyberfraud #fintechsolutions #secureinsight #closingguard ✪ Amanda PaddWayne Doctor

#hiring *Senior Associate, Workout Officer (CRE/Multifamily Housing) (100% Remote)*, Nashville, *United States*, $165K, fulltime #opentowork #jobs #jobseekers #careers $165K #Nashvillejobs #Tennesseejobs #RealEstateProperty *Apply*: https://lnkd.in/gASnuTgZ Senior Associate, Workout Officer (CRE/Multifamily Housing) (100% Remote)New York, United States of America Job Function Description: Manages a portfolio of criticized and distressed commercial real estate loans, across multiple property types, with risk management and loss mitigation as primary objectives. Minimizes potential losses to the Company by identifying areas of concern and/opportunities, and reports on potential and/or known issues and implements solutions in accordance with risk management objectives. Provides continuous monitoring of credit risks in the Portfolio and proposes action plans directed towards mitigation and resolving further potential deterioration in borrowers in the Portfolio. Performs financial analysis on the commercial real estate collateral and related parties, reviews market conditions, and identifies the relevant risks that are appropriately mitigated. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions. Ensures adherence to the policies and procedures established by the company. Manages policy, standard definition and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies. Monitors and manages risk/exposure and compliance with the company's policies. Identifies, manages and reports on the company's risk areas. Evaluates the adequacy and effectiveness of data, document retention, and monitors systems. Essential Functions/Responsibilities: Devise strategies, negotiate and structure transactions as required in Workout, provided that the decisions are consistent with the overall obligor strategy and plan as approved. Develop Workout strategies including analysis of a borrower's repayment capacity, evaluation of the guarantor support, and continual assessment of collateral condition and value. Perform financial analysis, Commercial Real Estate appraisal analysis, understanding of market dynamics and ensuring internal and external reporting is completed as required. Prepare Workout credit proposals and reviews, ensuring appropriate risk ratings, accrual status, charge-offs, reserves, and strategies. Provide continuous monitoring of credit risks in the Portfolio and propose action plans directed towards mitigation and resolving further potential deterioration in borrowers in the Portfolio Collaborates with multi

💼 They say, 'You're only as good as your ops team,' and we couldn't agree more. At Directors Mortgage our operations team is made up of seasoned industry professionals. Wowing your clients and referral partners is key, so we've built a system that rewards swift action. Docs to escrow 6 days before close? Bonus. Make it 8 days? Double bonus. It's about exceeding expectations. What sets us apart? Our culture. Sales and ops work hand in hand here. Our underwriters aren't just gatekeepers; they're problem solvers, working with our loan officer to get deals to the finish line. Recognition matters. Just like our sales team, our ops team members receive awards for their dedication. And kudos to our ops team members currently enjoying the Circle of Excellence trip in Cabo. 🏖️ Does your ops team measure up? 🌟 #DirectorsMortgage #OperationalExcellence #Teamwork"

We all like to celebrate the success' and call out stand out performances in the broker space with certain lenders. However I was asked by ANZ recently "why do you use other lenders more than us". Well after this recent experience this is why, and this isn't a once off occurrence. - Client's approval took an extra 5 days due to assessor asking for documents outside of policy - 2nd Mortgage was requested (guarantor) within AOL, I uploaded parents loan statement (and provided to the assessor) - Formal approval issued - They realised 4 days before settlement that they didn't send the DOP - New formal approval issued, because a new formal approval was issued new documents sign - ANZ like to live in the 19th century and everything needs to be wet signed - Clients also have to go into a branch to be identified and open an account - I go out on a Sunday get all new documents, dropped off and scanned to D&D for settlement to happen ideally today (was due last Thursday) - Get a notification today that their shortfall account is in stop debit ( SD )which to me a as a broker makes no sense as they both went into a branch to open - Now we are waiting again... most likely to be told "go into a branch" This has been the worst experience I've ever had in 10 years of lending. The lack of ownership and ability to get issues resolved. The BDMS are trying their hardest but the constant push back and delays caused by ANZ processes is just exhausting. I hate to post something like this, but I will always advocate for my client and I'm at my last straw.. #anz

To automate a process, you first need to define it. But how do you find process boundaries when they span across functions? 👇 Work product. A process's main characteristic is its work product (e.g., a Loan Application). All the activities that occur from the start of the process until the work product is finished are part of the process. Process activities may spread across multiple roles, business functions, and companies. However, they still work together to produce the same work product. Processes like Mortgage Loan Origination involve many steps. To manage this complexity and clarify boundaries even further, it helps to slice them (vertically) into sub-processes. Sub-processes work on the same work product (e.g., a Loan Application) but at different stages: ↳ Loan Application Intake ↳ Loan Application Underwriting ↳ Loan Application Funding ↳ etc. A clear definition of the process is a prerequisite for process automation and analytics. #mortgage #operations #technology

If your Company is Hiring New Loan Officers this year, the best thing managers can do is give them the tools that save time which will make more money for everyone. Operational Efficiencies streamline the process in all departments and it begins with the initial interview with the loan officer and borrower. As they say, it’s all in the details and missing details can cause loans to be delayed and cost a lender money. Did you know the industry average submit to close ratio is 53%? LANIS users are experiencing better than 95% close ratios. What would a 5% or 10% improvement mean to your bottom line? How do you improve your close ratio?  Try LANIS TIER|ONE. It Is Next Generation most efficient Cloud-Based Mortgage Prequalification, Presentation, and Compliance Solution. It’s time Loan Officers had the tools to maximize their efforts and be more efficient in the process. To schedule a 15 minute Executive Overview of the software, click or copy and paste this link: https://lnkd.in/gy2QyYAR. You will be given a Promo Code for a 30 day free trial and no credit card is needed. www.golanis.com  805-498-4843 sales@golanis.com #loans #mortgagesoftware #compliance #software #efficiency #mortgagebrokers

I am currently exploring opportunities in mortgage operations with a focus on roles like Loan Processor or Underwriter. Additionally, I am interested in positions in loan servicing, particularly as a Loss Mitigation Underwriter or Loss Mitigation Manager. My experience includes a robust background in compliance, including conducting internal loan audits. #MortgageOperations #Compliance #LoanServicing