Independent Banker - April 2020 - 29

Next: The bond portfolio writes back to the bank president
While we
generally think of
compliance strictly
as a consumer
protection function,
many compliance
processes are
fundamental
to preventing
and detecting
mortgage fraud.
of fraudsters, is difficult to detect until
losses have occurred, and may be more
difficult to control or detect in a thirdparty
scenario outside the bank's walls.
The potential for fraud lurks in many
creative schemes (see " Types of mortgage
fraud " ), and if community banks
are not aware of the dangers, they and
their customers may fall victim to losses
from the deceit and misrepresentation.
Ron Haynie, ICBA senior vice president,
mortgage finance policy, sums it
up this way: " Community banking is
local, not national, and the success of
community banking relies on knowing
your customer and the other parties
involved in any transaction. The fundamentals
of safety and soundness
and compliance, conducting your due
diligence, and knowing the transaction
are the best tools community bankers
have to thwart mortgage fraud. "
Mary Thorson Wright, a former Federal
Reserve examiner, is a financial writer
in Virginia.
i
Open the Compliance Vault
Need an answer to a burning compliance question? Visit the
ICBA Compliance Vault at icba.org/compliance and get access to
more than 2,300 Q&As.
Relax.
We do
the work.
PMA Funding™ (PMA), an ICBA Preferred Service Provider, has been a leading
provider of stable deposit and cost-effective funding solutions for over 35 years.
The result: financial institutions have been able to diversify and manage their liquidity
needs with greater flexibility. The PMA companies provide financial services to more
than 3,200 public entities and administer client assets over $27.5 billion, which offers our
banking partners a dependable source of funding. Through unique funding capabilities,
we develop custom deposit programs to meet your funding needs using a variety of
deposit vehicles. PMA's client deposits provide the size and savings of the secondary
CD market with the flexibility and stability of core deposits, without disrupting your local
markets. Put the days of worry-and cannibalizing your funding sources-behind you,
and relax. We do the work. Call us at 800.783.4273 or visit us at www.pmafunding.com
T 630.657.6400 E info@pmafunding.com W pmafunding.com
*Total assets under administration as of 12.31.19 include money market pool assets for which the PMA companies serve as fund administrator/
accountant, marketer/distributer, fixed income program provider (brokerage services), and/or investment advisory, or separate institutional
accounts. PMA Funding is a service of PMA Financial Network, LLC and PMA Securities, LLC (member FINRA, SIPC) (collectively " PMA " ). PMA
Securities, LLC is a broker-dealer and municipal advisor registered with the SEC and MSRB. ©2020 PMA Financial Network, LLC. All rights reserved.
http://www.icba.org/compliance http://www.pmafunding.com http://www.pmafunding.com

Independent Banker - April 2020

Table of Contents for the Digital Edition of Independent Banker - April 2020

Table of Contents
Independent Banker - April 2020 - Intro
Independent Banker - April 2020 - Cover1
Independent Banker - April 2020 - Cover2
Independent Banker - April 2020 - Table of Contents
Independent Banker - April 2020 - 2
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Independent Banker - April 2020 - Cover3
Independent Banker - April 2020 - Cover4
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