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AllRegs Looking to Educate the Public on CFPB Rules
Nov 27, 2013

AllRegs has announced the availability of financial education that may help mortgage lenders meet requirements as identified by the Consumer Financial Protection Bureau (CFPB). As part of best practices, a mortgage lender should be supporting consumers with understanding the path to homeownership, as well as providing expertise and knowledge with regard to maintaining a home throughout the length of the mortgage. This knowledge includes things like how to make and stick to a budget, the impact of credit scores, defining the industry players that they will meet, and the mortgage process itself. In addition, it is important that consumers be made aware of how to avoid predatory scams and to know their consumer rights. "At AllRegs, we believe that consumer training is a key piece of any lender Compliance Management System," said Dan Thoms, executive vice president of AllRegs. "Financial education is a key component of any lender program to support the consumer's protection in financial decisions. Lenders can now seize the opportunity to provide this turnkey financial education to their consumers and meet CFPB requirements." To support these best practices, AllRegs now offers online financial education courses that any mortgage lender can make available to their consumers, members, borrowers, and potential borrowers. Mortgage lenders can seamlessly make this homeownership training curriculum available to consumers on their websites. Courses are approximately one-hour in length with over 22 course titles to choose from.  
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