Lenders guide to the fsa regulations for mortgage sales

Investment Education Plc

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Description

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    Course

  • Start date

    Different dates available

Background & Objectives
This one day course provides a practical and essential guide, for staff of mortgage lenders, to the new rules as detailed in MCOB and appropriate sections of the FSA Sourcebook.
At the end of the course delegates will have an understanding of the key regulatory issues involved in selling mortgages and how they apply to the delegates firm and individuals sales/supervisory roles.
Delegates
Bank and building society mortgage advisers
Client facing staff involved in mortgages
Compliance officers
Supervisors of mortgage sales
Mortgage packagers
T&C officers
In addition, all bank and building society staff are required to have an understanding of the mortgages rules in their role e.g. branch managers, customer relationship managers, call centre mangers, etc.. No prior knowledge is assumed.
Course

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Subjects

  • Compliance
  • Staff
  • Mortgage
  • FSA
  • Sales
  • Financial
  • Record Keeping
  • Financial Training
  • Regulations
  • Sales Training

Course programme

Content
Section One - The Sourcebook
-The Principles
-Authorisation
-Approved persons
-Financial resources, client money & PII
-Appointed representatives
-Senior Management responsibilities
-Disclosure of the firms status
-Record keeping
-FSCS and FOS
-Complaints handling
-Reporting
Section Two - MCOB Rules
-Background to mortgage regulation including critical dates. What is a regulated mortgage contract (and what is not). Which mortgage activities are regulated. Financial promotion including -cold calling- rules. Advising and selling standards:
-Scope of service (whole of market, limited panel, single lender)
-What must I do to describe myself as -independent-
-Initial disclosure documentation
-Advised sales versus non-advised sales
-Suitable advice rules, including affordability
-Self certification
-Pre-sale disclosure: Key facts illustrations. Disclosure at offer stage.
-Disclosure at start of contract and after sale. Lifetime mortgages: advising and selling standards (as above). APR
-Responsible lending rules. Charges. Arrears and repossessions handling
Section Three - Training and Competence



-Advising on standard mortgages
-Advising on lifetime mortgages
-Supervision
-Transitional arrangements (i.e. grandfathering)
-Non advised sales of standard mortgages
-Non-advised sales of lifetime mortgages
Examinations
Todays Date: 8 September 2017
Duration 1 day

See related categories

Lenders guide to the fsa regulations for mortgage sales

Price on request

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