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Are you aware that in 2012\xa0CFPB issued a bulletin requiring all mortgage banks to monitor their relationships with vendors? \xa0If not, you are not alone. \xa0Even if you are aware of this, you will want to listen to\xa0today's broadcast, where we have as our guests\xa0two experts, Andy &\xa0Theresa Schell. \xa0They will be\xa0providing\xa0information about\xa0how\xa0to implement a program to comply with the new requirements for the Management of Service Providers.\xa0\n\nThe new CFPB rules aren\u2019t necessarily as vigorous the OCC and FDIC requirements but the new CFB rules are modeled after them. In today\u2019s session Andy and Theresa will talk about the following:\nWhat is a \u201ccovered person\u201d and \u201cservice provider\u201d and why does it matterCreating a Third Party Vendor management ProgramVendor Risk weighting, what is it?What is a CFPB Service Provider?Outsourcing Due DiligenceVendor Service Level Agreement RequirementsVendor Monitoring and Contingency Planning\nCreated BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken. Joining the program each week is Joe Farr with a MARKET UPDATE, Alice Alvey providing a LEGISLATIVE UPDATE, Paul Muolo of Inside Mortgage Finance giving a quick MTG NEWS HEADLINES update, Andy Schell (a/k/a "The Profit Doctor") providing tips on FINANCIAL MANAGEMENT and TONY GARRITANO providing a TECHNOLOGY UPDATE.\xa0 This is followed by the HOT TOPIC segment, which is an in depth discussion about one of the hottest topics related to the mortgage industry.\xa0\xa0\nAre you aware that in 2012\xa0CFPB issued a bulletin requiring all mortgage banks to monitor their relationships with vendors? \xa0If not, you are not alone. \xa0Even if you are aware of this, you will want to listen to\xa0today's broadcast, where we have as our guests\xa0two experts, Andy &\xa0Theresa Schell. \xa0They will be\xa0providing\xa0information about\xa0how\xa0to implement a program to comply with the new requirements for the Management of Service Providers.\xa0\n\nThe new CFPB rules aren\u2019t necessarily as vigorous the OCC and FDIC requirements but the new CFB rules are modeled after them. In today\u2019s session Andy and Theresa will talk about the following:\nWhat is a \u201ccovered person\u201d and \u201cservice provider\u201d and why does it matterCreating a Third Party Vendor management ProgramVendor Risk weighting, what is it?What is a CFPB Service Provider?Outsourcing Due DiligenceVendor Service Level Agreement RequirementsVendor Monitoring and Contingency Planning\nCreated BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken. Joining the program each week is Joe Farr with a MARKET UPDATE, Alice Alvey providing a LEGISLATIVE UPDATE, Paul Muolo of Inside Mortgage Finance giving a quick MTG NEWS HEADLINES update, Andy Schell (a/k/a "The Profit Doctor") providing tips on FINANCIAL MANAGEMENT and TONY GARRITANO providing a TECHNOLOGY UPDATE.\xa0 This is followed by the HOT TOPIC segment, which is an in depth discussion about one of the hottest topics related to the mortgage industry.