Cognitive Options Group Launches BSA/AML Training Curriculum for Non-Bank Mortgage Lenders

LAKEWOOD, Colo. - Feb. 18, 2015 - PRLog -- Cognitive Options Group (http://www.cognops.com), a national consulting firm specializing in mortgage compliance (http://www.cognops.com) and loan due diligence reviews, announced it is now providing the firm’s operational advisory services to include Anti-Money Laundering & SAR’s for non-bank lenders engaged in mortgage banking.

As the industry continues to see historic low rates in early 2015, the need for proper management of AML/SAR’s policy and procedure is critical. With this expansion of volume comes increased regulatory risk and originators must be vigilant in meeting new regulatory and investor rules.

“As regulatory compliance for real estate financing has become more complex, the need for lenders and management to understand the volatile rule making environment is critical,” said Michael S. Richardson Managing Director of Cognitive Options Group, LLC. “Growing fiduciary responsibility for all mortgage related leadership increases the need to engage mortgage industry experts for guidance.”

Cognitive Options Group, LLC a  national consulting firm specializing in Mortgage Loan Due Diligence and Compliance Reviews announced today it is providing an online training solution to the financial services industry, with its launch of a new Compliance program for non-bank residential mortgage lenders and originators (RMLOs).

The training is designed to help RMLOs comply with the rules issued by the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN), requiring RMLOs to establish anti-money laundering (AML) programs and file suspicious activity reports (SARs).

The Cognitive Options Group’s comprehensive BSA/AML training curriculum is tailored to help RMLOs meet the FinCEN requirements. The on-going employee training program was written by the Cognitive Options Group Managing Director Michael S. Richardson, “Author of An American Epidemic, Mortgage Fraud a Serious Business", and includes:

·         What is loan fraud?

·         Real Estate Fraud

·         Money Laundering

·         Customer identification verification

About Cognitive Options Group:

Cognitive Options Group is based in Lakewood, CO and utilizes proprietary software tools to help financial institutions determine if loans have been underwritten to risk tolerances,  guideline and program requirements (Prime, Subprime, VA and FHA), and compliance with GSE, QM, federal, and state regulations.  Cognitive Options Group also provides companies with operational, transactional, and professional compliance services.  We provide entire or specific outsourcing of risk management for our client’s regulatory compliance function and its requirements.We provide a complete regulatory compliance program that includes risk assessments comprised of program development, implementation, and administration. We can supplement our client’s internal resources to discover, review and provide a Best Practices solution to specific regulatory compliance issues. We serve as an independent assessor of mortgage compliance procedures, to identify challenges, and propose revisions to policy and procedures.

To facilitate our client’s success, we believe we must rigorously uphold our core values. We maintain these standards consistently so you can always trust that our teams are more than a collection of individual perspectives. They represent one mindset…that of Cognitive Options Group, LLC.

For more information on Cognitive Options Group, LLC please visit www.cognops.com or call (720-370-9090).