ACES Quality Management’s Post

The Scanner: CFPB Seeks OMB Approval for New Consumer Complaint Surveys and Targets Mortgage Closing Fees, TU Argus Unit and Lexis Nexis Insurance Risk Solutions Unit Under Scrutiny for Data Misuse, and Lawyer sues AMEX and Experian Over Faulty Credit Report that Delayed Bar Admission, and more top headlines from this week Catch up on all of the top news from this week: https://hubs.la/Q02pw2Kd0 #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

The Scanner: CFPB Seeks OMB Approval for New Consumer Complaint Surveys and Targets Mortgage Closing Fees, TU Argus Unit and Lexis Nexis Insurance Risk Solutions Unit Under Scrutiny for Data Misuse, and Lawyer sues AMEX and Experian Over Faulty Credit Report that Delayed Bar Admission, and more top headlines from this week Catch up on all of the top news from this week: https://hubs.la/Q02pw0f80 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

I’ve written an article on the Financial Ombudsman Services recent complaints data for H1. Throughout the article, I explore the key themes and trends driving the increase in complaints over the last six months, and provide my thoughts on what firms should be thinking about in relation to their complaints processes. Feel free to reach out if you would like to discuss in further detail. #FOS #complaints #compliance #regulation

🔍 Why does Fair Lending matter? 🔍 Fair lending isn't just a buzzword; it's a cornerstone of responsible lending practices. The Consumer Financial Protection Bureau (CFPB) has also made it a focus of their most recent audits At Mortgage Quality Management & Research (MQMR), we understand the importance of fair lending compliance. That's why we offer comprehensive tools and services to help you mitigate risk ⚠ and uphold fair lending principles. Our expertise includes leveraging HMDA data through regression analysis, providing tailored training, and conducting policy and procedure reviews. By partnering 🤝 with us, you can proactively address fair lending risks and demonstrate your commitment to ethical lending practices. Ready to strengthen your fair lending compliance efforts? Let's connect and discuss how MQMR can support your goals. Reach out to me today to learn more about how we can ensure that your Fair Lending program is up to par. ⛳ #FairLending #CFPB #Compliance #HMDA #RiskManagement #EthicalLending #RegulatoryCompliance #MortgageIndustry #mortgagecompliance #mqmr

🚀 DSCR Lenders, Want the Ultimate Edge? 🔑 Borrower protection isn’t just a feature—it’s the game-changer. 📉 42% fewer defaults with active monitoring ⚡ 68% faster response to credit issues 💰 $2.3M savings per $100M portfolio One DSCR partner boosted investor confidence by 57% after implementing borrower protection. 💡 Smart Protection = Smart Lending. Are you ready to protect borrowers, reduce risk, and increase returns? Let’s connect. #DSCR #LendingInnovation #RiskManagement #RealEstateFinance

Check out this insightful analysis on the FOS's 2024 H1 complaints data which suggests a 40% rise in complaints since last year. My colleagues, Matt Browne and Mac McGuire, unpack what this means for strengthening policies and keeping teams informed. Worth a read!    #FOS #Wealth #FinancialRegulation 

Another great blog from my colleague Claire Rees DipFCP, DipAML, this time looking at the importance of Automated Transaction Monitoring and Customer Screening for Lenders. #AML #financialcrime #amlcompliance 👀👇

📢 FAQ Friday ❓ Question: We recently received a consent order as a result of a routine state examination. Do we need to report this to HUD? Read this week's FAQ to find out! https://lnkd.in/guHvuGkQ #MQMR #FAQFriday #FHAReporting #StateSanctions #HUDCompliance #MortgageeReviewBoard

TransUnion CIBIL launches Early Risk Score, a comprehensive score that helps lending and financial institutions take informed lending decisions. TransUnion CIBIL Early Risk Score (ERS) leverages the power of trended credit data and identity attributes that helps validate payment intent, out-of-pattern behaviors and early defaults. Make efficient lending decisions through early identification of delinquency and intent assessment. Click here to know more about Early Risk Score: http://transu.co/6047Y7qyc #TUCIBIL #EarlyRiskScore #RiskManagement #AdvancedAnalytics

The best tool to check payment intent, out of pattern behaviours and early defaults…