A critical component to keeping a business free of compliance issues is the creation and implementation of policies and procedures designed to account for the ever-growing and ever-changing swath of regulations in play at any given time.
Richard Horn, founding attorney at Richard Horn Legal, PLLC, will lead a three-person panel discussion about such policies and procedures, featuring industry experts representing the title agent’s perspective, the legal perspective and the lender’s perspective during the 2017 National Settlement Services Summit (NS3) in San Antonio.
Horn will kick off the session talking about legal requirements to maintain policies and procedures as part of an effective compliance management system (CMS) before turning the focus over to Title Source Chief Operating Officer Brian Hughes and Wells Fargo Home Lending Senior Vice President Brian Webster to go in-depth about how they handle compliance challenges on the business side.
Horn said the plan going into the session is to have a lively discussion rather than a lecture.
“We’re hoping attendees will leave saying ‘Okay, this is what I need to do and why I need to do it,’ as well as understanding what pitfalls to look out for,” Horn said.
Horn is well-versed in the issues service providers tend to run into, especially among relatively small organizations, whether they are aware that they are subject to the Consumer Financial Protection Bureau’s (CFPB) supervisory and enforcement jurisdiction or not.
He’s encountered organizations in different situations in his compliance reviews, such as organizations without any policies and procedures and ones that were out of date. He plans to offer tips to correct such shortcomings before they manifest into major problems.
“Brian and Brian will share with the audience their own experiences navigating the legal requirements and the practical aspects of instituting policies and procedures in an organization,” Horn continued.
He noted that having someone to speak from a title perspective will offer the audience unique insight into how a title agency must tailor its policies and procedures to specific business functions. He also pointed out that lenders are required to ensure their service providers are in compliance with consumer protection laws, and many request them to provide their policies and procedures as part of their due diligence. And they are doing so with increasing frequency.
“They’re not subject to everything a lender is subject to under consumer protection rules, but their policies and procedures should be in compliance with applicable requirements so that lenders can be comfortable that their providers are following the law,” Horn said.
The audience will be encouraged to engage in the discussion during the Q&A session, which Horn hopes will be a prominent part of the presentation.
For more information on the 2017 NS3, including the agenda and a list of speakers, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone. For sponsorship opportunities, email [email protected].