Lender’s Compliance Guide to Mortgage Loans
Wednesday June 10, 2009
Program Schedule (MDT) 7:00 a.m. Program Begins, 10:00 a.m. Lunch, 11:00 a.m. Program Resumes, 1:00 p.m. Program Adjourns
During the last few months, both Congress and the various federal regulators have crafted revisions to some of the regulations that have been a part of our lives for many years. As a result, banks will have to change policies and procedures in order to comply. While this seminar will include an overview of all compliance aspects of a mortgage loan, the primary focus of the day will be the new requirements and the required changes that will result. The Regulation Z changes have effective dates of July 30, 2009, and October 1, 2009. The July 30, 2009 changes add very significant new timing and delivery issues for early truth in lending disclosures, which will now be required for all closed-end mortgage loans. Additionally, the rules will alter the timing for the collection of mortgage related fees, such as application and appraisal fees. The October 1, 2009 changes focus on “higher priced mortgage loans.” If a bank has a loan that is classified as a higher priced loan, there are additional underwriting standards that must be met, limitations on prepayment penalties, and mandatory escrow requirements (which will become effective April 1, 2010). The RESPA changes have effective dates of January 16, 2009 (Servicing Disclosure), April 16, 2009 (Affiliated Business Arrangements), and January 1, 2010 (Good Faith Estimate and HUD-1, HUD-1A changes). These changes (especially the January 1, 2010 changes) are significant, and will impact all lenders and all banks. The Manual - To assist the bank in understanding the current regulations, as well as the new changes, the manual will be written in a full narrative format, which will assist banks as a resource after the seminar is completed and will allow the student to focus on the material being presented rather than on taking notes. Agenda Application Issues HUD Settlement Cost Booklet Credit Report Issues Servicing Disclosure New 2009 Rules Early “TIL” Disclosure July 30, 2009 Rules Impact of the APR – “Higher Priced Loan Rules” October 1, 2009 Rules Impact of the APR/fees – HOEPA Loans Good Faith Estimate January 1, 2010 Rules ARM Disclosure Rules Right to Appraisal / Delivery of Appraisal Rules Affiliated Business Arrangement Rules July 16, 2009 Rules FACT Act Mortgage Credit Score Disclosure Rules Flood Determination Rules Appraisal Rules Rescission Rules HUD 1 / 1A Rules January 1, 2010 Changes Other Disclosures BSA Issues Audience This seminar is designed to discuss the compliance issues from the perspective of mortgage lenders, mortgage processors, and lending management. This course will also assist compliance officers, senior management, bank trainers, loan auditors, loan operations personnel, and others involved in the mortgage lending compliance process to understand all of the new requirements and to share this information with others inside the bank. Speaker Bill Elliott has over 25 years of banking experience. As a compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews for all areas of compliance, conducting in-house training, and writing compliance articles and training materials. During his career, Bill spent 15 years as a compliance officer and CRA officer in a large community bank, and also worked for a large regional bank. He has been a lender for consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout. What is a Webcast? A webcast is a live streaming video that can be accessed from your computer. In today’s busy world, you can attend the event at the scheduled time and be able to enjoy a streaming multimedia webcast from the convenience of home, the office, or while traveling. Live Webcast include the video of the presenter, slides, and program materials that is all accessible from your computer! A webcast is archived allowing you the convenience to view the seminar following the seminar. What is an On-Demand Seminar? An On-Demand Seminar are live events that have been recorded and put into a format to view at your own convenience. The program can be viewed at any time with a 24/7 availability. You can watch a portion of the program and come back and pick up where you left off! You, also, have the advantage of being able to view the program at will in case you need a refresher.
Please check all appropriate boxes Lender’s Compliance Guide June 10, 2009 Webcast (live web seminar) $450 mem $900 non-mem On-Demand $450 mem $900 non-mem *We cannot guarantee registration for incomplete and/or illegible registration forms received. Please complete the form and type or write carefully. _____________________________________________________ Name _____________________________________________________ Title _____________________________________________________ Bank _____________________________________________________ Mailing Address _____________________________________________________ City/State/Zip _____________________________________________________ Phone/Fax _____________________________________________________ E-mail
-Preferred Payment Method: Online or e-Check -Payment Must Accompany Registration - Invoices are Not Provided Four Ways to Register: Online: Visit www.montanabankers.com (Education) Fax: Fax completed form with credit card information to 512/381-1571 Mail: Mail completed form with check to Bankers Ed, 5700 S. Mopac, #C310, Austin, TX 78749 by June 1, 2009 Phone: Call Bankers Ed at 888/262-7701 *Late Registration: Please register online when registering 2 days prior to the event (credit cards & e-Checks accepted). Call 888/262-7701 for assistance. Method of Payment (check one): Check payable to Bankers Ed (must be accompanied by registration form) Discover Card MasterCard VISA AMEX _______________________________________________________ Card Number Security Code
Signature
_______________________________________________________
Exp. Date
Questions? Call MBA 800/541/5126. Please route this brochure. www.montanabankers.com (education)