In compliance with AML regulations, all applications submitted to lenders are now checked for a completed AML Risk Assessment. Applications without completed Risk Assessments will be prompted with a soft stop to complete one before proceeding.
As a Brokerage or Office Admin, you can turn this into a hard stop by removing the option that allows submissions without a completed assessment.
1. Select Administration, Office Admin.
2. Click the office name to make changes.
3. Under the Anti-Money Laundering Settings, remove the check next to “Allow Submission without AML Validation.”
4. Your settings will be automatically saved.
You will also have access to a Borrower Risk Assessment report that provides an overview of AML Risk Assessment ratings, client PEP status, and ID Verifications. You can click Drilldown for a breakdown of applicants per agent.
