Compliance Rules for Lenders

While 2014 was a banner year for changes in mortgage lending compliance, the new "Integrated Disclosures" that became effective October 3, 2015 have transformed the real estate lending process. There were new forms, expanded loan coverage, and timing requirements that collectively represent the most significant change to real estate lending in the last 40 years. This session will cover key lending compliance regulations (highlights of the Equal Credit Opportunity Act, HMDA, Flood, RESPA, Truth in Lending, and Fair Credit Reporting). It will also include a Bank Secrecy Act overview outlining "Five Reasons Lenders Should Have BSA Training".

What We Will Cover:

  • BSA training for CIP in the lending area, due diligence for detecting potential money laundering activity and Suspicious Activity Report (SAR) basics.
  • Fair Lending “best practices” 
  • Reg B requirements for the life of the loan including tips for taking an application. 
  • Overview of HMDA data collection, common problems and best practices; 
  • Overview of Flood requirements including the four trip wire events and changes for "detached structures" on residential property.  Beginning January 1, 2016 there were new rules for escrow requirements and notices; many credit unions will qualify for the "small lender" exemption to the escrow rules. 
  • "Integrated Disclosure" overview for coverage, timing, tolerances, and procedure changes that became effective for applications received on or after October 3, 2015. 
  • Special concerns about credit report accuracy, permissible purpose, and handling disputed reporting under the Fair Credit Reporting Act.
  • Highlights of the most common errors in consumer real estate secured loans; tips to prevent violations.

Also Receive the Bonus Toolkit!
  • Matrix of 28 types of real estate secured loans (consumer & commercial) showing the requirements for applications taken on or after 10/3/15 when the Integrated Disclosure rules became effective. 
  • Matrix of suggested training topics by job function for consumer, mortgage, commercial lenders and for loan operations staff
  • Summary of recent NCUA guidance, including complaint response requirements

Who Should Attend?

This informative session is designed for compliance officers, auditors, loan officers, loan assistants, and loan administration staff. This seminar is designed for both those new to lending regulations or more experienced personnel looking for a review of existing requirements. While there is an emphasis on the regulations that relate to real-estate secured lending, this session will be helpful to any employee who assists members with various types of loan requests.