January 2022 - Online Training Newsletter

Jan. 27, 2022

Introduction

Our online training catalog continues to expand as we break down those long and tough regulatory compliance courses into bite-sized sections. This month we tackled the Flood Disaster Protection Act. We’ve added four new courses that detail specific parts of the law. If your employees are looking for training on these specific areas, have them enroll in one or more of them. Here are the courses–details can be found in the full course catalog

  • Flood Disaster Protection Act: Applicability and Notifications. Review how a bank determines if flood insurance is required on a secured property and the notice that must be sent to the borrower. This course is intended for all residential mortgage lenders and support staff as well as compliance and operations personnel who monitor flood insurance requirements. Course length ≈ 23 minutes.

  • Flood Disaster Protection Act: Escrow. This course will discuss the banks that are required to escrow, the loans that require escrow, and the notice that banks must provide to the borrower. This course is intended for all residential mortgage lenders and support staff as well as compliance and operations personnel who monitor flood insurance requirements. Course length ≈ 10 minutes.

  • Flood Disaster Protection Act: Private Insurance. Explore the specific details regarding mandatory and discretionary acceptance of private flood insurance as well as private flood insurance offered by mutual aid societies. This course is intended for all residential mortgage lenders and support staff as well as compliance and operations personnel who monitor flood insurance requirements. Course length ≈ 16 minutes.

  • Flood Disaster Protection Act: Sufficient Coverage. Learn how to calculate the minimum flood insurance requirements and what to do when there is not sufficient coverage. This course is intended for all residential mortgage lenders and support staff as well as compliance and operations personnel who monitor flood insurance requirements. Course length ≈ 15 minutes.

What’s New

  • On Jan. 5, 2022, the following courses were updated:

    • Elder Finance Abuse

    • Home Mortgage Disclosure Act- In Depth and Home Mortgage Disclosure Act – Practical Application. (New dollar thresholds for institution assets and HELOC loan volume effective Jan. 1, 2022).

  • On Jan. 19, 2022, the following courses were updated:

    • Telephone Consumer Protection Act. (Additions made based on court decisions in 2021).

    • RESPA: Kickbacks and Affiliated Business Arrangement. (Changes made based on recent RESPA FAQs published by the CFPB).

  • On Jan. 25, 2022, the course “Flood Disaster Protection Act” was updated with fresh content.

    No action is required on the part of the administrators for employees to receive the updates to these existing courses. Courses enrolled in and not yet completed were automatically updated.

  • On Jan. 25, 2022, the following new courses were added to the full catalog:

    • Flood Disaster Protection Act: Applicability and Notifications

    • Flood Disaster Protection Act: Escrow

    • Flood Disaster Protection Act: Private Insurance

    • Flood Disaster Protection Act: Sufficient Coverage

Premium Plan Subscribers: The new courses are not automatically placed into your catalog of courses. You can modify catalog names, add, or remove catalogs, and fully control which courses are displayed within each catalog. Many of the Premium Plan clients have customized the catalogs based on their needs.

Because of this ability to customize, when new courses are added to the LMS, they are not automatically added into a catalog. This function is left to the LMS administrator to place the course in the specific catalog based on their bank's needs. To help with this process, we have included instructions on adding a course into a catalog of your choice. If you have any questions, reach out to Vubiz for technical assistance.

What’s Coming

  • In early February, the Harassment Prevention training courses will be updated.

  • Four new Fair Lending courses will be launched early to mid-February:

    • Fair Lending: Frontline

    • Fair Lending: Marketing

    • Fair Lending: Risk Management

    • Fair Lending: Types of Discrimination

Did You Know?

Did you know that the reports for the Bank Director Program Online Training are separate from the Full Access Online Training Plans and Bundles? If you subscribe to both the Bank Director Program and one of our full access plans/bundles you must pull two different reports.

Go to the Administration tab and run one of the applicable reports that begin with BDOT and the Activity Report for All Courses Excluding BDOT. You maybe download each report into Excel and then combine them for one complete report to present to the examiners.