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#1801170 - 04/03/13 08:36 PM How are you communicating the new DFA to staff?
Norman Paperman Offline
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Hello BOL Peeps,

I'm working through some training material I picked up last week at a seminar. Our loan staff knows that some serious changes are heading their way but they don't know exactly what. I'm trying to figure out how to give them a heads up without making anyone jump out the window.

How are you rolling out these changes to your lending staff?

I'm thinking about doing an e-mail summary of each topic two to three times per month.

Thoughts?
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Lending Compliance
#1801181 - 04/03/13 08:44 PM Re: How are you communicating the new DFA to staff? Norman Paperman
raitchjay Online
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I'm still in the process of communicating summaries to management and the board of directors. Honestly, i won't try to communicate much with the lending staff (except for the stuff that comes up in June, like no financing credit life, no mandatory arbitration, etc.) on this until it gets much closer to implementation. Maybe i'm mistaken in my thinking, but i don't want to train people on stuff that will take effect in 9 months, only to have to re-train them in 8 months.

When current conversations steer towards something that gives an opening for discussing how things will be different in the future, i do attempt to throw things at them then; but more in generalities, nothing specific.
Last edited by raitchjay; 04/03/13 08:46 PM.
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#1801184 - 04/03/13 08:46 PM Re: How are you communicating the new DFA to staff? Norman Paperman
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#1801185 - 04/03/13 08:47 PM Re: How are you communicating the new DFA to staff? Norman Paperman
manimal Offline
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The management team gets a monthly dashboard from me that: itemizes the new rules and when they are effective, how they will effect us (based on our size/complexity/products), which departments are responsible for compliance, and a status update that includes what we have done so far and vendor release info.
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#1801197 - 04/03/13 08:59 PM Re: How are you communicating the new DFA to staff? Norman Paperman
ahkcompliance Offline
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Right now I have emailed summaries to the loan staff but will most likely not do much traning until closer to the effective dates.

All of manaagment have received a little more indepth summary of each rule.

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#1801203 - 04/03/13 09:08 PM Re: How are you communicating the new DFA to staff? manimal
#Just Jay Online
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Originally Posted By: manimal
The management team gets a monthly dashboard from me that: itemizes the new rules and when they are effective, how they will effect us (based on our size/complexity/products), which departments are responsible for compliance, and a status update that includes what we have done so far and vendor release info.


Ditto.
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#1801216 - 04/03/13 09:25 PM Re: How are you communicating the new DFA to staff? Norman Paperman
Doug Hendrickson Offline
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I do an as-needed "Compliance Quickie" email to the affected departments, just summarizing what's coming and when, and then follow-up with specific training when the date gets closer to implementation.
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#1801355 - 04/04/13 02:25 PM Re: How are you communicating the new DFA to staff? raitchjay
RR Joker Offline
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Originally Posted By: raitchjay
I'm still in the process of communicating summaries to management and the board of directors. Honestly, i won't try to communicate much with the lending staff (except for the stuff that comes up in June, like no financing credit life, no mandatory arbitration, etc.) on this until it gets much closer to implementation. Maybe i'm mistaken in my thinking, but i don't want to train people on stuff that will take effect in 9 months, only to have to re-train them in 8 months.

When current conversations steer towards something that gives an opening for discussing how things will be different in the future, i do attempt to throw things at them then; but more in generalities, nothing specific.


Ditto.
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