{"id":5333,"date":"2020-09-01T10:00:05","date_gmt":"2020-09-01T14:00:05","guid":{"rendered":"http:\/\/migonline.com\/blog\/?p=5333"},"modified":"2020-09-01T10:59:29","modified_gmt":"2020-09-01T14:59:29","slug":"2020-department-highlight-compliance","status":"publish","type":"post","link":"https:\/\/migonline.com\/blog\/2020\/09\/01\/2020-department-highlight-compliance\/","title":{"rendered":"2020 Department Highlight: Compliance"},"content":{"rendered":"

Each year,<\/span> Mortgage Investors Group<\/a> helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. To commemorate National Mortgage Professionals Month this September, we’re sharing insights into the important roles each department plays in ensuring our borrowers are able to finance the home of their dreams. This week, we focus on the Processing Department.<\/span><\/p>\n

\n

\"\"\u00a0 Working Hard for You<\/span><\/h3>\n

Our Compliance staff is made up of four experienced people who help the loan process stay on track and that the loan is valid and complies with federal and state regulations.<\/span><\/p>\n

\u201cWe want to keep everything moving forward smoothly,\u201d said Senior Vice President Cathy Neubert, MIG\u2019s director of operations. \u201cThe Compliance Team is in the background, supporting the various major milestones in the timeline of a transaction as the production teams move toward closing.\u201d<\/span><\/p>\n

The Compliance department provides our Loan Officers and Loan Officer Assistants with instruction and assistance in generating the initial disclosure package and other documents needed to help our borrowers understand what their mortgage financing entails.<\/span><\/p>\n

\u201cThe customer needs to know those very important points about the financing option \u2013 estimated payments and estimated cash needed to close \u2013 we want to help provide that critical information with as much accuracy as possible, given the information received,\u201d Neubert said. \u201cIt\u2019s important to do that early and in a timely manner for a positive borrower experience.\u201d<\/span><\/p>\n

The Compliance staff serves as reviewers, evaluators and consultants who work closely with other departments so that deadlines are met. Notice of decisions made from prospective homebuyer who are not yet ready to take on that large financial obligation. The staff also assist with changes that can happen during the processing of the loan, keeping the financing in step with the customer\u2019s needs.<\/span><\/p>\n

\u201cMaking sure the borrower has received all the informational compliance documents and there is conformity to the program guidelines; as well as, accuracy of fees disclosed in a consistent manner. We want to help avoid unnecessary delays due to incomplete items,\u201d Neubert said. \u201cHelping keep customer informed and the closing on schedule are our objectives.\u201d<\/span><\/p><\/blockquote>\n

\n

\"\"\u00a0 Why We’re Industry Leaders<\/span><\/h3>\n

Federal regulation of the mortgage lending industry through laws such as the Truth in Lending Act, Fair Credit Reporting Act and Fair Housing Act dates back several decades. Over time, the laws have been revised and updated, and new regulations have been added. It\u2019s our Compliance staff who keeps track of all the changes by attending conferences, seminars and continuing education courses. They, in turn, educate the rest of our company about how to stay compliant with the laws.<\/span><\/p>\n

\u201cThe role of compliance has grown dramatically, especially in the last 10 years,\u201d Neubert said. \u201cThat\u2019s true not only at MIG, but across the industry. It\u2019s important to keep a current and positive perspective for the most agile mortgage operation by embracing digital opportunities at every turn. It\u2019s a new day for mortgage lending which MIG is embracing to take every possible digital step.\u201d<\/span><\/p>\n

We\u2019re always doing our best to efficiently meet our customer\u2019s needs and improve the way we do business, and that extends to using the latest technology to verify and validate loan characteristics through to eSignatures from our customers at all stages of the transaction. \u201cThe full eMortgage experience is on its way to MIG and our customers,\u201d Neubert stated.<\/span><\/p>\n

\u201cOne of the good things about being an independent mortgage banker is we only make home loans, the focus of the entire staff is on providing solid information to the customer in an as efficient manner as possible,\u201d Neubert said. \u201cWe see efficiency and compliance with regulations as resulting in a good, positive borrower experience\u2026.the MIG standard!\u201d<\/span><\/p><\/blockquote>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Each year, Mortgage Investors Group helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. … Continue reading 2020 Department Highlight: Compliance<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":5412,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"class_list":["post-5333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-mortgage-professional-month"],"yoast_head":"\n2020 Department Highlight: Compliance - Mortgage Investors Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2020 Department Highlight: Compliance - Mortgage Investors Group\" \/>\n<meta property=\"og:description\" content=\"Each year, Mortgage Investors Group helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. … Continue reading 2020 Department Highlight: Compliance →\" \/>\n<meta property=\"og:url\" content=\"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/\" \/>\n<meta property=\"og:site_name\" content=\"Mortgage Investors Group\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-01T14:00:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-01T14:59:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2020\/09\/nmpm-compliance.png\" \/>\n\t<meta property=\"og:image:width\" content=\"615\" \/>\n\t<meta property=\"og:image:height\" content=\"346\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Moneek\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Moneek\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/\"},\"author\":{\"name\":\"Moneek\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#\\\/schema\\\/person\\\/f7df6ab3b3775912d3bf05a25a1c0fe4\"},\"headline\":\"2020 Department Highlight: Compliance\",\"datePublished\":\"2020-09-01T14:00:05+00:00\",\"dateModified\":\"2020-09-01T14:59:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/\"},\"wordCount\":659,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/nmpm-compliance.png\",\"articleSection\":[\"National Mortgage Professional Month\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/\",\"url\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/\",\"name\":\"2020 Department Highlight: Compliance - Mortgage Investors Group\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/nmpm-compliance.png\",\"datePublished\":\"2020-09-01T14:00:05+00:00\",\"dateModified\":\"2020-09-01T14:59:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#\\\/schema\\\/person\\\/f7df6ab3b3775912d3bf05a25a1c0fe4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#primaryimage\",\"url\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/nmpm-compliance.png\",\"contentUrl\":\"https:\\\/\\\/migonline.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/nmpm-compliance.png\",\"width\":615,\"height\":346},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/2020-department-highlight-compliance\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/migonline.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"2020 Department Highlight: Compliance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/migonline.com\\\/blog\\\/\",\"name\":\"Mortgage Investors Group\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/migonline.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/migonline.com\\\/blog\\\/#\\\/schema\\\/person\\\/f7df6ab3b3775912d3bf05a25a1c0fe4\",\"name\":\"Moneek\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"2020 Department Highlight: Compliance - Mortgage Investors Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/","og_locale":"en_US","og_type":"article","og_title":"2020 Department Highlight: Compliance - Mortgage Investors Group","og_description":"Each year, Mortgage Investors Group helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. … Continue reading 2020 Department Highlight: Compliance →","og_url":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/","og_site_name":"Mortgage Investors Group","article_published_time":"2020-09-01T14:00:05+00:00","article_modified_time":"2020-09-01T14:59:29+00:00","og_image":[{"width":615,"height":346,"url":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2020\/09\/nmpm-compliance.png","type":"image\/png"}],"author":"Moneek","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Moneek","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#article","isPartOf":{"@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/"},"author":{"name":"Moneek","@id":"https:\/\/migonline.com\/blog\/#\/schema\/person\/f7df6ab3b3775912d3bf05a25a1c0fe4"},"headline":"2020 Department Highlight: Compliance","datePublished":"2020-09-01T14:00:05+00:00","dateModified":"2020-09-01T14:59:29+00:00","mainEntityOfPage":{"@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/"},"wordCount":659,"commentCount":0,"image":{"@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#primaryimage"},"thumbnailUrl":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2020\/09\/nmpm-compliance.png","articleSection":["National Mortgage Professional Month"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/","url":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/","name":"2020 Department Highlight: Compliance - Mortgage Investors Group","isPartOf":{"@id":"https:\/\/migonline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#primaryimage"},"image":{"@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#primaryimage"},"thumbnailUrl":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2020\/09\/nmpm-compliance.png","datePublished":"2020-09-01T14:00:05+00:00","dateModified":"2020-09-01T14:59:29+00:00","author":{"@id":"https:\/\/migonline.com\/blog\/#\/schema\/person\/f7df6ab3b3775912d3bf05a25a1c0fe4"},"breadcrumb":{"@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#primaryimage","url":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2020\/09\/nmpm-compliance.png","contentUrl":"https:\/\/migonline.com\/blog\/wp-content\/uploads\/2020\/09\/nmpm-compliance.png","width":615,"height":346},{"@type":"BreadcrumbList","@id":"https:\/\/migonline.com\/blog\/2020-department-highlight-compliance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/migonline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"2020 Department Highlight: Compliance"}]},{"@type":"WebSite","@id":"https:\/\/migonline.com\/blog\/#website","url":"https:\/\/migonline.com\/blog\/","name":"Mortgage Investors Group","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/migonline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/migonline.com\/blog\/#\/schema\/person\/f7df6ab3b3775912d3bf05a25a1c0fe4","name":"Moneek"}]}},"_links":{"self":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/5333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/comments?post=5333"}],"version-history":[{"count":5,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/5333\/revisions"}],"predecessor-version":[{"id":5358,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/5333\/revisions\/5358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media\/5412"}],"wp:attachment":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media?parent=5333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/categories?post=5333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/tags?post=5333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}