Mortgage Origination: An Overview of Compliance Requirements 2022 (B) | ProBank Austin | 20 April 2022 | Online

Originating a mortgage loan is perhaps one of the most difficult processes among all lending products from a compliance standpoint, particularly with all of the changes due to the 2008 financial crisis and the resulting Dodd-Frank Act. Lenders must comply with a number of provisions under different regulations, which can be confusing and overwhelming.

This remote session will provide a high-level overview of federal lending compliance requirements, presented from the time of application to closing, and will differentiate between those rules that require us to provide disclosures and those that require certain analysis. The seminar will provide a refresher for those who are familiar to lending compliance, and an excellent introduction for those new to the lending area.

HERE IS WHAT YOU WILL LEARN:

This remote seminar will include the origination requirements for closed-end mortgage loans under ECOA/Regulation B, FCRA, TILA/Regulation Z, RESPA/Regulation X, Privacy, Flood Insurance, PMI, and Sales of Insurance. Among other rules, this seminar, will include the following topics:

Applications:
• Definition of Application under ECOA/TILA; and
• Government Monitoring Information under ECOA/HMDA.
• At Application Requirements: ARM Disclosures; Privacy Notice; and Insurance Notice.
• Permissible Purpose/Credit Report.
• Disclosures Required Three Business Days After Application, Including the Loan Estimate.
• Determinations: Ability to Repay; Higher-Priced Mortgage Loan; and High-Cost Mortgage; Flood.
• Disclosures/Notification Required Before Closing, Including Notification, Appraisal and Flood.
• Closing Disclosure.
• Other Obligations At/After Closing: Right of Rescission; PMI Notice; and Escrow Account Statement.

2022 Speaker

Anetria Cohen
Vice President, ProBank Austin