CoesterVMS, an appraisal management company, released its new CFPB suite, a web-accessible compliance program that allows lenders to verify compliance with all third-party regulations established by the Consumer Financial Protection Bureau.
The Rockville, Md.-based company created CFPB Suite to log, file and sort all CoesterVMS’ compliance related activities for compliance with applicable regulations.
"The CFPB has stated that it expects lenders to do their due diligence on the service providers it engages," said Brian Coester, CEO of CoesterVMS.
He explained, "The CFPB Suite allows lenders to find out the actual steps CoesterVMS took to ensure compliance with every CFPB third-party regulation that could possibly be considered their responsibility. We’re making that due diligence easy."