Edcomm Banker’s Academy has made immediate changes to several of their bank training programs to reflect the recent HMDA update.
New York, NY, November 01, 2008 — In response to the recent updates made to the Home Mortgage Disclosure Act (HMDA), Edcomm Banker’s Academy has made immediate changes to their bank training courses. Edcomm Banker’s Academy has made changes to Achieving Consumer Lending Excellence, Achieving Platform Excellence, Focus on Compliance, and Focus on Compliance for Credit Unions.
According to the new updates made to HMDA, lenders have until October 1, 2009 to report the spread between the loan’s average prime offer rate (APR) and a survey-based estimate of APRs currently offered on prime mortgages of a comparable type if the spread is equal to or greater than 1.5 percentage points for a first lien loan or equal to or greater than 3.5 percentage points for a subordinate-lien loan. The changes made to HMDA matches the threshold for rate spread reporting to the definition of higher-priced mortgage loans, which were adopted by the Board under Truth in Lending (TILA), or Regulation Z, in July of 2008.
Achieving Consumer Lending Excellence offers benefits such as, increased sales, improved customer service, smarter lending decisions, better application completion, compliance with lending policies and accurate, efficient consumer lenders.
Achieving Platform Excellence gives platform professionals an overview of the industry, prepares them to provide outstanding customer service and reviews the various products and services that the Bank offers.
Focus on Compliance includes: Bank Secrecy Act (BSA), Anti Money Laundering (AML), USA PATRIOT Act, OFAC, Privacy, Gramm-Leach-Bliley Act, Right to Financial Privacy, Sarbanes-Oxley (SOX), Reg CC & Check 21, Reg D, Reg E, Reg Z, Truth in Lending, FCRA, HMDA, CRA, and Bank Bribery.
Focus on Compliance for Credit Unions covers: Bank Secrecy Act (BSA), Anti-Money Laundering (AML), USA PATRIOT Act, OFAC, Privacy, Gramm-Leach-Bliley, Sarbanes-Oxley, Reg CC, Check 21, Reg E, Truth in Lending, FCRA, FACT Act, ECOA, Fair Lending, HMDA, and Bank Bribery.
For more information about programs like this, or to find out how Edcomm Banker’s Academy can customize any training program, log onto www.bankersacademy.com or call 888-433-2666.
Edcomm Banker’s Academy is a 21-year-old multimedia education and communication consulting firm specializing in the development of creative business solutions that improve productivity, customer service and market share – providing bottom-line results.
Edcomm Banker’s Academy has had the privilege of assisting many distinguished clients with business solutions in the form of eLearning programs, classroom instruction, multimedia production and online and print based documentation. Edcomm Banker’s Academy offers many off-the-shelf and customized courses such as Teller Training, Compliance Training and Systems Training specifically designed for Banks, Credit Unions and Money Services Businesses (MSBs).
Edcomm Banker’s Academy (www.bankersacademy.com) is headquartered in New York City with locations and representation throughout the world.
Press Release Submission by PressReleasePoint ( http://www.pressreleasepoint.com )
Press Release Submission by PressReleasePoint
Contact:
Linda Eagle
The Edcomm Group Banker’s Academy
21 Penn Plaza Suite 1010
New York, NY 10001
888-433-2666
[email protected]
http://www.bankersacademy.com
