Mortgage Loan Origination Compliance

RELEASE DATE: JANUARY 22, 2024
ESTIMATED DURATION: 100 MINUTES

Please note: To ensure you have access to the most recent information, an updated version of this webinar is released every year in the month of January.

Doing mortgage loans is not only good for your members, it is a good source of long-term income for the credit union. But along with that comes great responsibility as there are many laws and regulations affecting the process. In this webinar, we will work through all of them, starting with loan applications through funding disclosures.

In today’s highly consumer-centric compliance environment, it is essential to understand the laws and regulations surrounding what is the largest financial transaction that most consumers will engage in during their lifetime – homeownership. Whether this is a home purchase, refinance, equity loan or line of credit, there are many laws that credit union employees need to understand in order to be in compliance to avoid regulatory scrutiny, lawsuits and negative reputation. Starting with the application process, this webinar weaves its way through the regulatory requirements in the order they come up during the origination cycle. We will be looking at the red-hot topic of fair lending, Regulation B requirements throughout the application process, Fair Credit Reporting Act. Truth in Lending, Real Estate Settlement Procedures, Flood insurance calculations and notification, Home Mortgage Disclosure Act, Private Mortgage Insurance and more. After this program, participants should be aware of:

•  Requirements for obtaining credit reports
•  The circumstances for providing Adverse Action Notices
•  Gathering of Government Monitoring and reporting loan-related information under HMDA
•  Disclosure timing, ability to repay, and changes in circumstances under Truth in Lending
•  RESPA requirements including prohibited practices and escrow account calculation

This session is designed for: mortgage loan officers, loan processors, mortgage loan specialists or those who assist in any aspect of the loan process, loan policy and procedure writers, compliance and audit

MEET THE SUBJECT MATTER EXPERT:

Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has been helping financial institutions with the development of compliance programs since 2000. She provides compliance training all over the country for various trade associations and financial institutions, and also speaks at numerous financial institution conferences throughout the country. Mary-Lou has been an instructor at regulatory compliance schools and conducts dozens of webinars for organizations throughout the country.