AML-BSA Compliance for Mortgage Lenders
Non-bank mortgage lenders, mortgage brokers, and loan originators are required to maintain AML-BSA compliance programs under FinCEN regulations. Soflo delivers annual AML-BSA training, BSA risk assessments, and audit-ready documentation — online, without consultants.
AML-BSA Compliance Requirements for Mortgage Lenders
Non-bank mortgage lenders and mortgage brokers are classified as financial institutions under the Bank Secrecy Act and are required to maintain a formal AML-BSA compliance program. FinCEN's regulations at 31 CFR Part 1029 specifically address AML-BSA requirements for residential mortgage lenders and originators.
A mortgage lender's AML-BSA compliance program must include annual AML-BSA employee training, a written BSA risk assessment, AML policies and procedures, and suspicious activity reporting (SAR) procedures. Examiners from state regulators and the CFPB review AML-BSA programs during routine examinations.
Soflo's AML-BSA compliance platform delivers mortgage-specific annual training covering loan application fraud, property flipping schemes, straw buyer transactions, and OFAC screening — all with auto-generated certificates and audit-ready documentation.
Regulatory Authority
FinCEN / State Mortgage Regulators / CFPB
98%
Exam pass rate
150+
Lenders served
1–3 days
To full compliance
$399/yr
Starting price
AML-BSA Compliance Requirements
for Mortgage Lenders
FinCEN / State Mortgage Regulators / CFPB requires mortgage lenders to maintain AML-BSA programs covering these core obligations.
Annual AML-BSA employee training with certificates of completion
Written BSA risk assessment for mortgage lending operations
AML policies and procedures covering SAR filing and recordkeeping
Customer Identification Program (CIP) and beneficial ownership procedures
Loan application fraud detection and reporting procedures
Independent testing of the AML-BSA program
AML-BSA Risks Specific to Mortgage Lenders
Soflo's AML-BSA training covers the specific money laundering risks your industry faces — not generic compliance content.
Loan Application Fraud
Mortgage fraud is a primary AML-BSA risk for lenders. Your program must train staff to identify falsified income, straw buyers, and inflated appraisals.
Cash-Out Refinancing Schemes
Cash-out refinancing is frequently used to launder proceeds. AML-BSA training ensures your team recognizes and reports suspicious refinancing patterns.
Property Flipping
Rapid property flipping with inflated values is a known money laundering technique. Your AML-BSA program must address this risk specifically.
Third-Party Originator Risk
Mortgage brokers and TPOs introduce AML-BSA risk. Your program must include due diligence procedures for third-party relationships.
Three AML-BSA Compliance Plans
for Mortgage Lenders
No proposals. No custom quotes. No sales calls. Pick your AML-BSA compliance plan and start today.
Training Only
Annual AML-BSA training & certification
From $399/yr
Annual AML-BSA compliance subscription
- Annual AML-BSA video training modules
- Auto-generated certificates of completion
- Employee progress tracking dashboard
- Audit-ready compliance reports
- Automated annual renewal reminders
Instant access · no sales call required
Training + Review
Training + BSA risk assessment review
From $798/yr
Annual AML-BSA compliance subscription
- Everything in Training Only
- Expert review of your BSA risk assessment
- Gap analysis against current FinCEN standards
- AML policy & procedures review
- Written remediation recommendations report
Instant access · no sales call required
Training + Creation
Full AML-BSA program built from scratch
From $1,736/yr
Annual AML-BSA compliance subscription
- Everything in Training Only
- New institutional BSA risk assessment
- Custom AML policy manual for your company
- Customer risk rating methodology
- FinCEN regulatory update tracking
Instant access · no sales call required
AML-BSA Compliance Questions
for Mortgage Lenders
Common questions about AML-BSA compliance requirements, costs, and timelines for mortgage lenders & non-bank lenders.
Are mortgage lenders required to have an AML-BSA program?
Yes. Non-bank residential mortgage lenders and originators are required under 31 CFR Part 1029 to maintain a written AML-BSA compliance program. This includes annual AML-BSA employee training, a BSA risk assessment, AML policies and procedures, and SAR filing procedures.
What does AML-BSA training for mortgage lenders cover?
AML-BSA training for mortgage lenders covers loan application fraud, property flipping schemes, straw buyer transactions, cash-out refinancing red flags, OFAC screening, and SAR filing obligations. Soflo's platform delivers mortgage-specific AML-BSA training with auto-generated certificates.
Do mortgage brokers need AML-BSA compliance programs?
Yes. Mortgage brokers who originate residential mortgage loans are classified as loan originators under FinCEN regulations and are required to maintain AML-BSA compliance programs. This includes annual AML-BSA training and a written BSA risk assessment.
How often must mortgage lenders complete AML-BSA training?
FinCEN requires annual AML-BSA training for all relevant employees at mortgage lending companies. Training must be completed at least once per year and must cover the company's specific AML-BSA policies, red flag recognition, and SAR filing procedures.
What happens if a mortgage lender fails an AML-BSA examination?
Mortgage lenders that fail AML-BSA examinations face civil money penalties, license suspension, and regulatory orders to remediate their programs. State mortgage regulators and the CFPB actively examine AML-BSA programs. Soflo clients have a 98% examiner pass rate.
AML-BSA compliance for other regulated industries
Start Your AML-BSA Compliance
Program for Mortgage Lenders Today
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