What is the PLM's responsibility regarding training and continuing education for staff?

• A. Training once at hire and never updated
• B. Ensure ongoing training on laws, compliance, and product knowledge; track completion
• C. Training only on sales techniques
• D. Training is optional for non-licensed staff

Answer: (B)

Ongoing training on laws, compliance, and product knowledge, with tracked completion, is essential because mortgage rules and regulatory requirements continually evolve, and staff must stay current to operate legally and effectively. The PLM is responsible for designing and maintaining a training program that updates employees as laws change, reinforces compliance policies, and deepens understanding of the company’s products. Keeping records of who completes what training creates an auditable trail for regulators and supports license renewal and risk management. This approach also applies to non-licensed staff, who need awareness of rules and procedures to handle customer interactions correctly and securely.

Training only at hire or focusing solely on sales techniques misses critical regulatory and product updates, leaving the organization exposed to compliance gaps. Training being optional for non-licensed staff undercuts the overall safety and consistency of operations. The ongoing, tracked program that covers laws, compliance, and product knowledge best ensures everyone stays informed and compliant.