PEOPLES HOME EQUITY INC., SCALES TRAINING, STREAMLINES COMPLIANCE FROM ON24

1

Headcount saved

2X

Over the industry’s 2X engagement benchmark

7M+

In annual engagement minutes

ABOUT Peoples Home Equity

Name: Peoples Home Equity

Headquarters: Brentwood, Tennessee, US

Founded: 2001

Employees: 200 – 500

Funding: Private

Industry: Financial Services

 

Summary

Founded in 2001, Peoples Home Equity Inc., provides Americans with the means to realize responsible home ownership. A conventional and government HUD-approved lender, Peoples Home Equity closes more than three billion dollars in mortgage loans annually. It does so by prescribing, approving and managing loan programs for almost any need.

Name: Peoples Home Equity

Headquarters: Brentwood, Tennessee, US

Founded: 2001

Employees: 200 – 500

Funding: Private

Industry: Financial Services

 

Founded in 2001, Peoples Home Equity Inc., provides Americans with the means to realize responsible home ownership. A conventional and government HUD-approved lender, Peoples Home Equity closes more than three billion dollars in mortgage loans annually. It does so by prescribing, approving and managing loan programs for almost any need.

Introduction

Peoples Home Equity Inc. is a licensed mortgage lender in 34 states. As a member of the heavily-regulated mortgage lending industry, Peoples must comply with all federal and state fair lending and fair housing laws while meeting regulatory compliance training requirements. To meet these requirements, the company needed a centralized educational and training tool in place.

 

Peoples Home Equity Inc. is a licensed mortgage lender in 34 states. As a member of the heavily-regulated mortgage lending industry, Peoples must comply with all federal and state fair lending and fair housing laws while meeting regulatory compliance training requirements. To meet these requirements, the company needed a centralized educational and training tool in place.

 

This was a completely new initiative for the company, requiring them to build a training program completely from scratch. Upping the pressure, the company had to quickly launch and scale a digital training program to be compliant with the Consumer Financial Protection Bureau supervisory program. Peoples decided to lean into the challenge and use it as an opportunity to tackle another important initiative: support its remote workforce. They knew there was no time to waste—Peoples Home Equity determined a webinar platform was the only way to achieve both goals.

CHALLENGE

Peoples Home Equity initially tried to use an existing webinar technology vendor and quickly found the platform was not equipped for their needs. First off, the platform was difficult to use, leading to confusion and user frustration. The plug-ins required to consume webinars, and the subsequent nagging download updates, quickly became a hindrance to productivity.

Secondly, the webinar solution that Peoples Home Equity was stuck with was also stuck in the past. It only supported the delivery of one-off, live events which meant its employees either stopped everything to attend a session or were out of luck. The company knew it needed a modern solution that gave the audience the same experience and level of engagement from any place or hour. And, it needed to be able to measure that engagement, whether live or on-demand, to ensure their audience was actually receiving an education.

“With ON24, we were able to avoid adding another headcount, saving my company $75,000 to $80,000 in salary
costs right out of the gate.”

BELINDA AUSTIN
DIRECTOR OF CORPORATE TRAINING

SOLUTION

ON24 powers compliant, efficient training through webinars.

Peoples Home Equity had to make a switch and upgraded to the ON24® Engagement Platform to train its remote teams and comply with the CFPB policy. With a better solution in place, Peoples Home Equity established its own informal learning management system, covering all of CFPB’s requirements, while adding a powerful tool for internal training, information distribution and more. With ON24, Peoples is able to:

  • Make compliance training easy.
    Advanced analytics gives Peoples the ability to track the time a participant stays in a webinar, monitor and track test responses, providing the data necessary to meet the CFPB’s mandatory fair practice regulatory training needs.
  • Automatically issue testing certification.
    Peoples Home Equity provides programs requiring some employees to take training sessions and pass tests. With ON24, the company can issue a certificate directly from the lesson as soon as the criteria, such as a number of correct answers in a module, are met by the employee.

ON24 powers compliant, efficient training through webinars.

Peoples Home Equity had to make a switch and upgraded to the ON24® Engagement Platform to train its remote teams and comply with the CFPB policy. With a better solution in place, Peoples Home Equity established its own informal learning management system, covering all of CFPB’s requirements, while adding a powerful tool for internal training, information distribution and more. With ON24, Peoples is able to:

  • Make compliance training easy.
    Advanced analytics gives Peoples the ability to track the time a participant stays in a webinar, monitor and track test responses, providing the data necessary to meet the CFPB’s mandatory fair practice regulatory training needs.
  • Automatically issue testing certification.
    Peoples Home Equity provides programs requiring some employees to take training sessions and pass tests. With ON24, the company can issue a certificate directly from the lesson as soon as the criteria, such as a number of correct answers in a module, are met by the employee.
  • Easily issue critical information to remote offices.
    Remote employees can access the latest information from Peoples whenever and wherever because webinars now work seamlessly on desktops and mobile devices. No additional software, apps or updates required.
  • Make recording speakers easy.
    Peoples Home Equity can now record its speakers, and its subject matter experts, with relative ease. Speakers can prerecord sessions, easily update slides and prepare events with minimal instruction, saving time.
  • Provide live and on-demand engagement
    Gone are the days of emailed questions. Employees can now submit questions right from the console during either live or on-demand training. And, with live and simu-live chat, attendees can get the answers they need in real-time.

RESULTS

With an easy-to-use, self-service webinar platform in place, Peoples Home Equity ensured its continued compliance, brought training to its employees and saved itself from having to create a new position specifically for training. Today, Peoples enjoys:

  • Trouble-free access to training.
    With on-demand lessons, new joiners can watch, interact and complete training on their schedule from wherever they are.

With an easy-to-use, self-service webinar platform in place, Peoples Home Equity ensured its continued compliance, brought training to its employees and saved itself from having to create a new position specifically for training. Today, Peoples enjoys:

  • Trouble-free access to training.
    With on-demand lessons, new joiners can watch, interact and complete training on their schedule from wherever they are.
  • Easy company-wide communications.
    Peoples saves both time and resources with instant on-demand company updates. No more coordinating live attendance across time zones.
  • Proven compliance.
    With advanced analytics, automatic certificates and course completion tracking, Peoples ensures its employees are up-to-date and compliant with the latest regulations.

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