ORLANDO – Credit unions preparing for changes in federal regulations that oversee truth-in-lending and real estate settlement rules on August 1, 2015 should check with vendors to ensure their changes will mesh with the credit union's, a compliance officer for Mortgage Builder said.
Melissa Kozicki, director of compliance for Mortgage Builder, urged executives attending NACUSO's 2015 conference to work with vendors to make sure that credit union staff understands the changes that loan origination systems will include. The organization held its conference at Disneyworld's Yacht Club resort in Orlando, Florida.
"I'm an LOS," Kozicki said. "I can write the best software around, but if your staff doesn't understand what it implements and why, you are not going to get the most you could out of it."
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