Loan Management System
VP Compliance Services’ Compliance Certified Vender program is an extensive review and audit of a Loan Management System’s (LMS)’ policies, procedures, training, background and more. A Compliance Certified LMS vendor is a LMS vendor, a lender can trust when looking to consummate a relationship with a new LMS provider.
VPCS will display all Certified LMS provider’s audit and review results. Interested parties may reach the LMS’ certification page by clicking the VPCS Certified Vendor logo on the LMS’ website.
| VPCS Vendor/Debt Buyer Certification | Description | Comments |
| Date Certified | Date vendor passed the certification audit | Re-audited yearly |
| Certifications & Accreditations | Description | Comments |
| Online Lenders Accreditation | Detailed examination of lenders policies and procedures | Current |
| Debt Buyer's Association Accreditation | Detailed review of debt buyer's policies and servicing practices | Current |
| Liens, Actions, Fines, Investigations | Description | Comments |
| Company Background Check | Background check of company and associated companies | Passed |
| Principal Owners Background Check | Background check of principals | Passed |
| Required Licenses | Description | Comments |
| Corporate Registration | Review of state and federal corporate registrations | Current |
| State Registrations & Bonds | Review of state registrations and bonds | Complete and current |
| Lending/Debt Buyer/Collections License Review | All required licences reviewed | Complete and current |
| DNC Registry and unsubscribe maintenance | Based on marketing channels | Current and complete |
| Agreement Review - Vendor and Debt Buyers | Description | Comments |
| Vendor | Examined for required elements of agreements | Passed |
| Buy/Sell | Examined for required elements of agreements | Passed |
| Tribal Financial | Examined for required elements vs Native American Financial Services requirements | Passed |
| Policies and Procedure Review | Description | Comments |
| OFAC | Policy Exists Procedure(s) Exists | Adequate |
| Payment Processing | Policy Exists Procedure(s) Exists | Adequate |
| BSA / AML | Policy Exists Procedure(s) Exists | Adequate |
| Fair Lending | Policy Exists Procedure(s) Exists | Adequate |
| EFTA / REG E | Policy Exists Procedure(s) Exists | Adequate |
| FCRA / FACTA | Policy Exists Procedure(s) Exists | Adequate |
| Identity Authentication | Policy Exists Procedure(s) Exists | Adequate |
| GLBA | Policy Exists Procedure(s) Exists | Adequate |
| Privacy | Policy Exists Procedure(s) Exists | Adequate |
| Record Retention | Policy Exists Procedure(s) Exists | Adequate |
| SCRA / MLA | Policy Exists Procedure(s) Exists | Adequate |
| UDAAP | Policy Exists Procedure(s) Exists | Adequate |
| TILA | Policy Exists Procedure(s) Exists | Adequate |
| Underwriting | Policy Exists Procedure(s) Exists | Adequate |
| Marketing | Policy Exists Procedure(s) Exists | Adequate |
| FDCPA | Policy Exists Procedure(s) Exists | Adequate |
| Vendor Management | Policy Exists Procedure(s) Exists | Adequate |
| TCPA | Policy Exists Procedure(s) Exists | Adequate |
| Information Security (GLBA) | Description | Comments |
| PCI Scan | Performed on all IP addresses | Passed |
| Written Security Program | Program Policy Exists | Passed |
| Information Encryption used when transferring data | Program Policy Exists | Passed |
| Network Monitoring | Vendor in place | Passed |
| Firewalls installed | Reviewed firewall technology and vendor | Passed |
| Default passwords and Security Parameters updated | Policy Exists Procedure(s) Exists | Passed |
| Protection against system attacks | Technology exists | Adequate practice of testing |
| Restricted access to Sensitive Information | Policy Exists Procedure(s) Exists | Passed |
| Secure development of system and applications | Policy Exists | Passed |
| Audits | Reviewed audit schedule and results | Passed |
| Physical Security | Policy Exists | Reviewed audits - passed |
| Clean Desk Policy | Policy Exists reviewed audit | Passed |
| Facility Access Monitoring | Policy Exists reviewed audit and logs | Passed |
| Training | Description | Comments |
| FDCPA | Review of adequacy and frequency of training | Passed |
| TCPA | Review of adequacy and frequency of training | Passed |
| Vendor Review | Description | Comments |
| Call Center | Reviewed vendor certification and audit programs | Passed |
| Debt Resale | Reviewed debt buyer certification and audit programs | Passed |
| Ongoing Monitoring (reporting, audits, monitoring, reviews) | Reviewed audit frequency and findings | Passed |
| On boarding (Questionnaire, Contract Review, Background checks, References) | Policy Exists Reviewed audits and frequency | Passed |
| Payment Processing | Description | Comments |
| Vendor Agreement | Reviewed agreements of TPPPs and ODFIs | Passed |
| NACHA Requirements | Review policy vs NACHA Best Practices | Passed |
| Statement Review | Reviewed statements to ensure performance within required threshhold | Passed |
| Compliance Management Program | Description | Comments |
| Oversight | Reviewed organizational structure, authority, and personnel | Passed |
| Monitoring | Reviewed monitoring programs for adequacy and frequency | Passed |
| Training | Reviewed training programs | Passed |
| Complaint Management | Reviewed program, system to manage, and inability to edit | Passed |
| Written Policies and Procedures | Policy Exists Procedure(s) Exists | Passed |
| Public Internet Search | Description | Comments |
| Vendor Name/Keyword | Performed searches and examined all posts | Acceptable results |
| CFPB Complaint Database | Examined CFPB complaints, resolutions, and response timing | Passed |
For more information on how our services can benefit your organization contact us at (877) 350-9933 X2 or sales@vpcs.biz
