Well folks, we have 10 days to implement for QM and the ATR. I thought this might be a great opportunity to highlight one implementation checklist each day to help you determine your readiness. Today’s Checklist is Staff Training.
Staff Training:
____ Staff is Scheduled to train no later than January 9 on all Modules related to their Position.
____ Training is Divided Into Position Specific Modules.
____ QM History, Regulations and Where to get Additional Guidance
____ QM/ATR Company Policy & Procedures
____ Legal Issues That Result from QM vs. Non-QM (Basic Overview)
____ Written Guidance on the Application of this Regulation to each Position in the Loan Process.
____ QM Math Training
____ QM Ability to Repay Training
____ Resource Reference Materials
____ “Go To” Expert Assigned Internally to Staff
____ LOS and PPE Training for New Functionality
____ Training Documentation that the Training is Complete for Each Employee
Missing Items from your checklist? No need to panic! Just contact me at tbutler@optimalblue.com and I will send you a training course that I have done for several state mortgage lenders associations. This will give you a base to build from!
