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Avoiding Consumer Loan Documentation Mistakes

Examiners have their sights focused on one key issue - protecting the consumer and ensuring they are treated fairly throughout the loan process. Therefore, it should come as no surprise that the requirements set forth in TRID, RESPA and FDPA regulation are the source of an increasing number of exam violations. In this session, we will dive into the errors financial institutions are making during the consumer loan process and review guidance, advisories, and proposals that set forth examiner expectations for these regulatory hot buttons.

OnDemand
Recorded Tuesday,
March 7th, 2023
Presented by Dawn Kincaid
1h 30m total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Lending
  • Lending Compliance
  • Mortgage Lending
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Mortgage Lender

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Over the last several years, the thickness of an average loan file has grown from being measured in millimeters to inches. This is especially true for residential real estate loans. Compliance staff are often responsible for reviewing these loan files either during the underwriting and approval process, or in the days after the loan is closed. But with so many regulations governing loan compliance, what exactly should you be looking for? What documents need to be in the files and what are the important things to verify on each? In this jam-packed session, we will discuss how to avoid mistakes when preparing consumer loan documentation.

What You'll Learn

  • Review a consumer application for completeness
  • Explain credit report usage and requirements
  • Distinguish between loans requiring GMI to be collected and those where it can’t
  • Use provided checklists to verify loan file documentation
  • Explain best practices for documenting BSA requirements and Identity Theft verification
  • Identify the key regulatory items to look at when auditing your loan files

Who Should Attend

This informative session is designed for Loan Officers, Loan Operations personnel, Compliance Officers, and your Internal Auditor.

Dawn Kincaid

Instructor Bio

Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 years of experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized the implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits, and exams, and presented for numerous state associations.

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