ISGN Partners With TRUPOINT to Provide CFPB Mock Audit
April 25, 2013
ISGN Corp. and TRUPOINT Partners have teamed up to offer a Consumer Financial Protection Bureau (CFPB) mock audit to help ensure financial institutions and mortgage lenders maintain compliance with the changing regulatory environment, CFPB rules and fair-lending requirements.
ISGN's Professional Services group, which assesses compliance and operational risk and provides process optimization and cost reduction strategies, has developed a proprietary risk framework to conduct a mock CFPB audit. During the audit, ISGN performs a targeted loan review of potential problem loans identified through TRUPOINT Analytics’ Fair Lending and Home Mortgage Disclosure Act (HMDA) analysis systems.
According to Lisa Weaver, CMB, senior vice president of Mortgage Solutions for ISGN, “This approach provides our clients the ability to conduct a ‘dry run’ to bring out any issues prior to the actual regulatory review.”