Money Services Businesses (MSBs) are non-bank financial institutions that transmit or convert money. Like banks, they are subject to regulatory review by the Internal Revenue Service (IRS) and must be registered with the Financial Crimes Enforcement Network (FinCEN). They must also comply with the Bank Secrecy Act along with other various state and federal laws and regulations.
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“Want to Make a Sale Today? Stop Multitasking.”
Is your mortgage team applying a single focus to achieve higher productivity and performance? Your team can multitask, but they can't multi-focus. Check out this Dale eMinute learning topic and more inside Mortgage HQ: All-in-One Training Solution.
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Mortgage Industry Updates: Monthly RoundUp – September 2020
Last month involved several industry updates and hot topics in the mortgage industry. We’ve rounded up some key updates and how they will affect you and your financial institution going forward.
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New FinCEN Cybercrime Advisory Targets COVID-19 Related Crimes
The Financial Crimes Enforcement Network (FinCEN) recently issued an advisory to alert financial institutions to potential indicators of cybercrime and cyber-enabled crime observed during the COVID-19 pandemic.
Infographic
2020 Early CE Deadlines
Whether you are a Mortgage Loan Originator (MLO) or responsible for managing your team’s licenses, you must be aware of the upcoming NMLS Mortgage CE deadlines. Certain states have even earlier state deadlines to be aware of. View the infographic for more information.