Help me, Banker call to action

Posted By: Andy_Z

Help me, Banker call to action - 11/16/16 02:50 PM

I am putting together a training session on "the first 60 days of the new MLA." I'm looking for what worked well in your change management (e.g. the credit bureau update was timely, our forms vendor delivered documents in plenty of time to test and train, etc.), what didn't work well (e.g. vendors slow to deliver forms or CB updates with mil verification, etc., insufficient time to test, unanswered questions including...)

So what did you find worked well, what didn't work and what are the issues you're dealing with today like what is part of the purchase price and what is not, are deposit secured loans OK or not, what are the components of the FC and the MAPR, access to the MLA databases is easy or hard, and hesitation on setoff, who the rule applies to, etc.

I'd really appreciate your input. Rather than post such things here, you can email me ANd thank you for the assistance.
Posted By: RR Joker

Re: Help me, Banker call to action - 11/17/16 03:03 PM

Vendor delivered timely
Credit bureaus appear to be functioning properly
DOD site works
Testing and training was mostly non-existent as one of our platforms has no test site and they couldn't turn the switch until midnight prior to...BUT, so far we've yet to have an affected loan, so that wasn't a real issue either.

I would like to see clarification on what constitutes the 'purchase price'. I feel confident deposit-secured loans are okay...I'll be very surprised if I found out otherwise as they are generally some of the lowest rate loans you could obtain.

Hope it was okay to post here...just now seeing your bottom line. laugh!
Posted By: Andy_Z

Re: Help me, Banker call to action - 11/17/16 03:18 PM

Any help is appreciated.