![]() ![]() Let’s move on to today’s main conversation. Jordan White: Thank you for letting us learn more about you. And then about five years ago, I went in-house to TMS as their Chief Compliance Officer, and I’ve never looked back. And went into government service, I went into private practice, and I worked for a law firm within the mortgage banking space, where my clients were primarily lenders, servicers, and vendors within the industry. So I worked at FINRA, the Financial Industry Regulatory Authority, FBI and their financial crime section, the SEC, Securities and Exchange Commission, HUD, Housing and Urban Development, and then the Department of Justice. I worked for what I like to call the alphabet soup of government regulatory agencies within financial services. Shayna Arrington: How does anyone get into mortgage? I’m not sure anyone grows up thinking they want to be a mortgage professional, yet we’re all here and it’s a great place to be. Jordan White: Before we dive into today’s topic, can you tell us a little bit more about you? I know you oversee compliance across all business channels at TMS, but how did you get to where you are today? Shayna Arrington: Thanks for having me today. Thank you for joining us on “HousingWire Daily.” It’s so nice to have you as a guest today, Shayna. In this episode of “HousingWire Daily,” we’ll be discussing the current pain points services are facing from a risk and compliance perspective, and how servicers can overcome those challenges to help their customers. Today, I’m joined with Shayna Arrington, Chief Compliance Officer at The Money Source. My name is Jordan White, and I’m an Assistant Editor with HousingWire. ![]() Jordan White: Hello, HousingWire listeners. These transcriptions, powered by Speechpad, have been lightly edited and may contain small errors from reproduction: If you have a pitch or an inquiry relating to podcasts, you can reach our team at īelow is the transcription of the interview. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. HousingWire Daily examines the most compelling articles reported across HW Media. We’re not making widgets here and you cannot treat your borrowers like you are. It’s unique to the individual borrower and what’s right for them and their family. It’s just it’s not a one size fits all approach. The consumer needs to understand what their options are, and how it impacts their financial situation. I would compare it to the disclosures that an MLO makes to the consumer at the origination of a transaction, where they’re explaining the terms and conditions of the obligation and what that actually means in the long term. They are complex concepts and need to be carefully explained to the consumer. And yet, now here we are 18 months later, and we’re throwing those phrases around like confetti. ![]() Pre-pandemic, we weren’t regularly engaging in conversations about things like forbearances, deferrals, and partial claims. I think that it really starts with educating the consumer and making sure that they understand their options for relief. They think about every aspect of the process. Jordan White: What should servicers be thinking about when it comes to compliance? Here is a small preview of the interview, which has been lightly edited for length and clarity: Arrington sat down with HousingWire assistant editor Jordan White to discuss the current risk and compliance issues facing servicers.Īdditionally, the pair examine some of the CFPB’s changes to Regulation X and discuss the new Fair Debt Collection Practices Act rules that are going into effect in November. Today’s HousingWire Daily episode features an interview with Shayna Arrington, the Chief Compliance Officer at The Money Source. ![]()
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