Compliance

  • A Compliance Management System  begins with strong policies and robust procedures.  The Commonwealth Group reviews and develops comprehensive policies and procedures to maintain compliance with a lender's regulatory requirements.

  • Ready to face your company's regulator?  The Commonwealth Group can carry out mock audits to verify compliance with regulations and stress test your company's current policies and procedures

  • AML/BSA Audits are required at least every two years.   The Commonwealth Group specializes in validating compliance with AML and BSA requirements

  • LO Compensation is an important part of compliance.  The Commonwealth Group can review and/or develop your company's LO Compensation Plan to be both compliant and competitive.

  • When was the last time your company tested its QC department for accurate findings, reporting, and long term trend analysis?  Verify that your company is getting accurate intelligence out of your QC department from The Commonwealth Group

  • Fair Lending is not just good business, it's the law!  Matched pair analysis for underwriting decisions along with adverse action reviews is part of a comprehensive fair lending analysis.  The Commonwealth Group can help you form a proactive approach to identifying disparate treatment or disparate impact.

  • A Pricing Regression Analysis should be conducted at least annually to check for disparate treatment which can lead to litigation against your company.  The Commonwealth Group performs analysis against key demographic areas to verify compliance with regulatory requirements.

  • How accurate is your company's HMDA LAR?   Inaccurate data can lead to error correction, the expense of refiling past HMDA data, and in certain cases, civil money penalties.  Let the HMDA experts at The Commonwealth Group audit your LAR for accuracy prior to your yearly or quarterly submission

  • The third part of a complete Compliance Management System.  An effective Internal Audit will verify whether the procedures of your company are meeting your company's policy requirements.  The Commonwealth Group can carry out a full suite of audits of your company's procedures to verify compliance with your company policies.

  • The Mortgage Electronic Registry System (MERS) requires an annual audit to verify compliance with their program.  Contact The Commonwealth Group for your annual review.

  • For warehouse lenders, accuracy of the credit and the collateral for draws against a company's warehouse lines are crucial.  Mitigate the risk of warehouse line fraud with The Commonwealth Groups due diligence team.

  • For banks, verifying Community Reinvestment Act performance is crucial.  The Commonwealth Group can carry our a review of your bank's compliance with CRA goals as well as a comparison to peer.  Contact The Commonwealth Group to schedule before your next evaluation from FRB, FDIC, or OCC.