VPCS’ compliance audit is an examination of a lender’s regulatory polices and procedures, training, and operational oversight. The review will compare your existing policies and procedures against best practices in the lending industry.
Upon completion, VPCS will produce a gap assessment identifying deficient areas by specific policy and procedure, training, and operational structure.
The review begins with a document production request. VPCS will perform the review remotely so lender staff will not be impacted by the review requirements.
The compliance audit is highly recommended because it will identify regulatory compliance weaknesses in a lender’s program(s).
The following is a partial list of regulatory compliance policies and procedures VPCS will request at the onset of the compliance audit.
Compliance Management Program
Communication Policy and Procedures
Customer Identity Policy and Procedures
Payment Processing Policy and Procedures
Credit Reporting Policy and Procedures
Vendor Oversight Policy and Procedures
TILA Policy and Procedures
SCRA and MLA Policy and Procedures
Collections Policy and Procedures
UDAAP Policies and Procedures