Compliance Committee

 

General Purpose of Compliance Committee:

Working in conjunction with members throughout the association, research and discuss current and proposed federal and state regulatory guidelines, their impact on members, and communicate to the Education and Legislative committees as well as the IMBA general membership as needed.

 

Members:

Members of this committee will include a Chair (current 1MBA member with responsibilities and/or experience in the compliance area) and members of the association representing compliance and various other areas of residential lending, including vendors.

General Responsibilities and Expectations:

  • Compliance Committee Chair to work pro-actively with IMBA ED to recruit committee members, set up a schedule of meetings/calls, and, either in person, via call, or written report, provide details of activities as warranted
  • Determine a date each summer to have a meeting/call to begin the process of developing the needs and a calendar for the upcoming year, starting in September
  • Working with ED, regularly send communication out to membership concerning meetings, upcoming training/education and request feedback on additional topics of interest/need
  • Working with the Education Committee Chair, schedule meetings, webinars, etc. to educate members on compliance issues, utilizing existing members or outside experts to present the subject material
  • Working with Legislative Committee Chair, provide input and feedback on federal and state compliance issues to be discussed with the Legislative Committee to formulate positions and input to appropriate state and federal regulators and legislators
  • Whenever possible, work with the Education Committee and the NMLS to provide continuing education (CE) credit on training/courses offered
    When calendar items are set, work with ED to have posted on IMBA web site

Goals:

Provide opportunities for committee members to discuss various compliance issues
and their impact on business, and to share with IMBA membership via e-mail, web
site updates and training/education opportunities

 
 
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