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Article provided by: ComplianceTech

Fair Lending Training

Fair Lending Training

Fair lending training
Training plays a vital role in any Fair Lending compliance management program. Every institution on the loan market must comply with Fair Lending regulations be it whether a bank, mortgage company, credit union, auto lender or alternative payment provider. To make this a success in your company you will need to provide your employees with the best Fair Lending training. Training is the best way to convey the meaning and importance of complying with the set regulations. The course also helps and trains your employees on how to manage and prevent the fair lending risks. Working with us comes with lots of advantages, and they include fair lending training to your employees at a pocket-friendly price.


What are the essentials of our strong Fair Lending compliance training?
Professionals should undertake an appropriate fair lending training, and it’s up to you to decide whether to purchase our training modules or allow us to send our representatives to train your employees. We have an able team that incorporates our software usage training with the fair lending training. Consider the following essential aspects to ensure your employees get proper fair lending training.


Choosing the model of training
As stated above, the choice of training method plays a significant role in the whole training process. You can consider in-person or online training which we are capable of proving. We can make arrangements with you so that the program training doesn’t affect your business operations. You also have the choice of training some of your employees who in turn will train other workers.


General Fair Lending Training
Organizations that must comply with Fair Lending regulations should ensure that employees go for Fair Lending training annually. Although it’s not a must to take all your employees for the general fair lending training, you can take the ones handling the crediting and lending process. Some businesses prefer to take all their employees for the practice which is not a bad idea. In case you have a small company that employees handle multiple tasks consider taking all of them for the training.


Who should be given priority for the fair lending training?
Sometimes we understand that your company budget may not be enough for training all of your workers. However, make sure at least it’s all your senior management employees undergo the fair lending training since they are essential in setting your company tone. If champion fair lending compliance, it will enhance the compliance culture in your company.


Role-Specific Fair Lending Training
This a training that we design for your employees depending on the roles they handle at your company. We offer the training for lenders, collections, loan assistant’s processors, underwriters, closers, and more. There are various unique risks pricing, underwriting, or steering, and teaching will be essential in making your employees understand how to deal with them.


Assessing every employee performance and Comprehension
During the training sessions, our company monitors the attendance of your employees and asses them using various tests to ensure that they get everything right. We also observe them for a while as they undertake their roles and correct them where necessary. Be sure to get in touch with us anytime you have questions, or you need training for your employees.

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