As with our previous post, we are taking a pause from our constant blogging about Remote I-9 Verifications to remind people that we are not just an employer compliance firm. TrendSource offers a wide range of compliance inspections for multiple verticals including finance, consumer reporting, and health care (among others!).
Today we are talking about complying with government rules regulating the debt collection industry, the repossession industry, and federal housing lenders.
Let’s take a look.
What are Debt Collector Inspections?
Many (many!) rules regulate debt collection, and these rules are outlined in the Fair Debt Collection Practices Act. The Consumer Financial Protection Bureau, the Federal Trade Commission, and states' attorneys general enforce these regulations.
Debt Collector Inspections help debt collection networks ensure their affiliated debt collectors comply with necessary guidelines. They include interviews with key employees and physical verifications of onsite security features.
Debt Collector Due Diligence Inspections, TrendSource helps Debt Collection Networks monitor their service providers’ compliance with the Fair Debt Collection Practices Act.
What are FHA Lender Inspections?
The Federal Housing Administration (FHA) typically audits lenders once per year, and mortgage companies must ensure that every satellite branch across the country documents its own compliance with FHA regulations. It is, of course, quite difficult to monitor each and every satellite office with corporate visits designed to ensure compliance.
TrendSource thus brokers satellite office Inspections for FHA lenders, offering an unbiased overview of the office's compliance with federal regulations. This includes standard and in-depth Inspections to evaluate FHA compliance, commercial and non-commercial space, statutes, regulations, HUD issuances, and employee procedures.
By offering mortgage branch inspections, FHA lender inspections, and HUD consolidated audits, TrendSource helps mortgage companies determine their satellite office’s compliance with the Fair Housing Administration (FHA) and Housing and Urban Development (HUD) requirements.
What are Repossession Lot Inspections?
The Consumer Financial Protection Bureau (CFPB) and the Fair Debt Collection Practices Act (FDCPA) regulate automobile repossession and skip tracing. TrendSource works with auditors to develop Inspections that evaluate a repossession facility's technology, security, and CFPB compliance.
TrendSource brokers Repossession Lot Inspections, and helps assess compliance with the Consumer Financial Protection Bureau and the Fair Debt Collection Practices Act guidelines
TrendSource Compliance for Government
TrendSource offers wide array of compliance management inspections helping businesses monitor and document their compliance with federal regulations and best practices.
Compliance is all about risk mitigation, ensuring that your company is not opening itself up to punitive action, ranging from fines to loss of contract and, in some cases, prison time. Yes, we talk a whole lot about Remote I-9 Verifications, but don’t let that distract you from the breadth of our offerings aimed at compliance.
At TrendSource, we check all the boxes!
