AllRegs Provides Financial Education for Consumers
EAGAN, Minn., Nov. 27, 2013 /PRNewswire/ -- AllRegs, the leading information provider for the mortgage industry, today announces 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.
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.
"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 learn how your company can take advantage of financial education offered by AllRegs, call (800) 848-4904 or visit Consumer Training at www.allregs.com. To learn more about how AllRegs can help your company meet other requirements as set forth by the CFPB, visit Compliance Management System at www.allregs.com or contact your regional account executive at (800) 848-4904.
First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides and The Federal Home Loan Banks' MPF Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, contract publishing services, policy manuals and a library of historical guidelines. The educational division, AllRegs Academy, offers virtual and live training, as well as designation and practical guides. The Professional Services Group develops custom guides, policy manuals and other documents on a contract basis. For more information, call (800) 848-4904 or go to www.allregs.com.
For more information, contact:
Krista Sabol, AllRegs
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