LENDING: KEY EXAMINER TRENDS
|
|
- Aubrey Kennedy
- 6 years ago
- Views:
Transcription
1 LENDING: KEY EXAMINER TRENDS 2015 Temenos USA, Inc. All rights reserved. Leah M. Hamilton Chief Compliance Officer, TriComply Services
2 WHAT YOU WILL LEARN TRID Compliance Reprieve Common issues Regulation Z (TILA) Regulation X (RESPA) Fair Lending Vendor Management Other notable mentions On the horizon Preventative measures 2
3 IS THERE REALLY A REPRIEVE ON COMPLIANCE? CFPB good-faith enforcement grace period Oversight will be sensitive to the progress made by those entities that have been squarely focused on making good-faith efforts to come into compliance with the rule on time FDIC: FIL Examiners will expect supervised entities to make good faith efforts to comply with the TRID Rule's requirements in a timely manner. Specifically, examiners will consider the institution's implementation plan, including actions taken to update policies, procedures, and processes, its training of appropriate staff, and its handling of early technical problems or other implementation challenges. Civil liability HR 3912: Homebuyers Assistance Act Enforcement safe harbor The integrated disclosure requirements for mortgage loan transactions under section 4(a) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2603(a)), section 105(b) of the Truth in Lending Act (15 U.S.C. 1604(b)), and regulations issued under such sections may not be enforced against any person until February 1, 2016, and no suit may be filed against any person for a violation of such requirements occurring before such date, so long as such person has made a good faith effort to comply with such requirements. Committee review and sent to House Placed on the Union Calendar, Calendar No. 210 October 1,
4 COMMON ISSUES REGULATION Z (TILA) Mortgage servicing Incorrectly crediting of payments Failure to apply payments in accordance with note Bi-weekly payments held for monthly application Failure to credit as of date received Calculating APR Note Advertisements 4
5 COMMON ISSUES REGULATION Z (TILA) Disclosure timing Within 3 business days 7 business day waiting period Disclosures Accuracy Advertisements vs. note vs. disclosures HELOCs ARMS 5
6 COMMON ISSUES REGULATION X (RESPA) Disclosure timing No cost loan Page 3 of the HUD: $0 in GFE column vs. new Loan Estimate Calculating GFE/LE fees Overestimating to create safety net Denying loans when fees are inaccurate or unacceptable Not a valid option Regulation B requires specific reasons for denial 6
7 COMMON ISSUES REGULATION X (RESPA) RESPA Section 8 (12 CFR ) Unearned fees C. Payments Must Be for Goods, Facilities or Services In the determination of whether payments from lenders to mortgage brokers are permissible under Section 8 of RESPA, the threshold question is whether there were goods or facilities actually furnished or services actually performed for the total compensation paid to the mortgage broker. In making the determination of whether compensable services are performed, HUD s letter to the Independent Bankers Association of America, dated February 14, 1995 (IBAA letter) may be useful. In that letter, HUD identified the following services normally performed in the origination of a loan: 7
8 RESPA SECTION 8 VIOLATIONS Violations of Section 8's anti-kickback, referral fees and unearned fees provisions of RESPA Subject to criminal and civil penalties Criminal case May be fined up to $10,000 and imprisoned up to one year Private law suit May be liable to the person charged for the settlement service an amount equal to three times (3x) the amount of the charge paid for the service Administrative Proceeding File No CFPB New Day Financial, LLC 8
9 COMMON ISSUES FAIR LENDING Disparate impact Texas Dept. of Housing and Community Affairs v. Inclusive Community Project, Inc. Disparate impact analysis under Fair Housing Act Redlining It s baaaackk! Did it ever leave? CFPB and DOJ take action 9/24/2015 Alleges that Hudson City Savings Bank redlined by locating its branches and selecting mortgage brokers nearly all outside of majority-black-and-hispanic neighborhoods, among other actions In other words, it intentionally discouraged potential borrowers from equal access to credit in majority-black-and-hispanic neighborhoods in New Jersey, New York, Connecticut, and Pennsylvania Re-check your maps! 9
10 VENDOR MANAGEMENT Third party vendor management Risk management Monitoring Debt collection 10
11 OTHER NOTABLE MENTIONS HMDA Error mitigation Flood Ongoing violations subject to $2,000 Document, document, document UDAP and UDAAP Consumer and commercial Sniff test FCRA Failure to follow FCRA accuracy and integrity requirements SCRA Incorrect calculations of SCRA protected payments Failure to identify servicemembers prior to foreclosure or repossession 11
12 UPCOMING HOT BUTTONS Complaint management program Complaint management required as part of compliance management system Cybersecurity What? That s IT s issue! FFIEC free cybersecurity risk tool 12
13 PREVENTATIVE MEASURES Well documented policies and procedures Clearly written and communicated Review policies and procedures Monitoring, auditing Ensure sufficient transactional testing Test the process, not just the documentation Actually monitor calls, especially debt collection If using a third party auditor, be sure to manage expectations as to what is reviewed, volume of transaction testing, risk rating Respond to and correct identified issues Potential Section 8 violations should always be brought to the Board s attention immediately Train, train, train Incorporate UD(A)AP into training On-going training Leverage staff meetings Develop internal Q&As # 13
14 Questions?
Fair Lending Issues and Hot Topics
Fair Lending Issues and Hot Topics Outlook Live Webinar November 2, 2011 Non-Discrimination Working Group of the Financial Fraud Enforcement Task Force Visit us at www.consumercomplianceoutlook.org informational
More informationREAL ESTATE SETTLEMENT PROCEDURES ACT ( RESPA ) POLICY
I. INTRODUCTION A. Background and Overview REAL ESTATE SETTLEMENT PROCEDURES ACT ( RESPA ) POLICY The Real Estate Settlement Procedures Act of 1974 ( RESPA ), 12 U.S.C. 2601 et seq., is a consumer disclosure
More informationMORTGAGE BANKERS ASSOCIATION OF ALABAMA
MORTGAGE BANKERS ASSOCIATION OF ALABAMA What s on the horizon for 2017? January 17, 2017 Presented by: J. David Dresher Jason R. Bushby Bradley Arant Boult Cummings LLP Attorney-Client Privilege. Agenda
More informationConsumer Compliance Hot Topics
Consumer Compliance Hot Topics Agenda Regulatory Timeline: Issued in 2014 On the Horizon for 2015 Areas of Supervisory Focus: Fair Lending Unfair or Deceptive Acts or Practices (UDAP) Flood Vendor Management
More informationIntention of Presentation
Intention of Presentation This is intended to be a high level presentation and not to get into the detail of each individual area. More of an overview. If there are questions or you would like to go over
More informationResidential Real Estate Lending. Key Highlights of Residential Compliance Regulations and Common Problem Areas
Residential Real Estate Lending Key Highlights of Residential Compliance Regulations and Common Problem Areas 2 Agenda Key Considerations in Assessing Risk for Residential Real Estate (RRE) Lending Overview
More informationComparison of 2010 RESPA-TILA Disclosure Rules to TILA RESPA Integrated Disclosure Rules
Comparison of 2010 RESPA-TILA Disclosure Rules to TILA RESPA Integrated Disclosure Rules Covered Transactions Exemptions Title of Instructions for completion of Delivery of Electronic delivery Federally
More informationThe Commercial Real Estate Lending Decision Process Series (RMA)
Business Banking & Commercial Lending Analyzing Business Financial Statements and Tax Returns Analyzing Financial Statements Analyzing Personal Financial Statements and Tax Returns Certificate in Business
More informationWhat is T.R.I.D TILA-RESPA Integrated Disclosure
T.R.I.D. What is T.R.I.D TILA-RESPA Integrated Disclosure The CFPB has issued a rule that is aimed to simplify and improve disclosure forms for mortgage transactions. The rule replaces the current forms
More informationManaging Fair and Responsible Lending Challenges and Risks
Managing Fair and Responsible Lending Challenges and Risks NYBA Technology, Compliance and Risk Management Forum White Plains, NY May 13, 2015 Legal Counsel to the Financial Services Industry Presented
More informationCompliance Update. NCSHA 2018 HFA Institute Washington, D.C. January 11, 2018
Compliance Update NCSHA 2018 HFA Institute Washington, D.C. January 11, 2018 Compliance Update NCSHA 2018 HFA Institute Washington, D.C. January 11, 2018 Discussion Leader: James Kinyon, Connecticut Housing
More informationFair & Responsible Lending in the Regulatory Crosshairs
Fair & Responsible Lending in the Regulatory Crosshairs Legal Counsel to the Financial Services Industry Minnesota Banking Law Institute April 5, 2013 Andrea K. Mitchell Partner Lori J. Sommerfield Counsel
More informationTrendspotting the CFPB: What s Coming and How Institutions Can Prepare
Trendspotting the CFPB: What s Coming and How Institutions Can Prepare Courtney H. Gilmer Baker Donelson Center Suite 800 211 Commerce Street Nashville, TN 37201 615.726.5747 cgilmer@bakerdonelson.com
More informationNavigating the Regulatory Compliance Environment for Investment and BusinessPurpose Mortgage Loans
THE BANKING LAW JOURNAL Navigating the Regulatory Compliance Environment for Investment and BusinessPurpose Mortgage Loans Allison Botos Schilz and Abigail M. Lyle* In today s regulatory environment, lenders
More informationLending Regulations Regulation Due Diligence Considerations Truth in Lending Regulation Z Real Estate Settlement Procedures (RESPA) Regulation X
Lending s Due Diligence Considerations Truth in Lending Z Determine whether loan product features will change in a manner that adversely affects consumers, such as revisions to payment processing or payment
More informationSupervisory Highlights
June 2016 Supervisory Highlights Issue 12, Summer 2016 Table of contents Table of contents... 1 1. Introduction... 2 2. Supervisory observations... 4 2.1 Automobile origination... 4 2.2 Debt collection...
More informationTILA-RESPA Integrated Disclosure (TRID) Rule a.k.a. Know Before You Owe. with New Haven Middlesex Association of REALTORS
TILA-RESPA Integrated Disclosure (TRID) Rule a.k.a. Know Before You Owe with New Haven Middlesex Association of REALTORS July 16, 2015 Jeremy Potter, General Counsel and Chief Compliance Officer, Norcom
More informationInteragency Consumer Laws and Regulations
Regulation X Real Estate Settlement Procedures Act The Real Estate Settlement Procedures Act of 1974 () (12 U.S.C. 2601 et seq.) (the Act) became effective on June 20, 1975. The Act requires lenders, mortgage
More informationTRID (TILA-RESPA Integrated Disclosures) Presented by:
TRID (TILA-RESPA Integrated Disclosures) Presented by: What is TRID? TRID will eliminate the use of the good faith estimate, truth in lending disclosures, and HUD-1 Settlement Statement. They will now
More informationWhat REALTORS. Should Know About CFPB Changes. Courtesy of:
What REALTORS Should Know About CFPB Changes Courtesy of: CFPB was formed as a result of Dodd-Frank in 2010 CFPB governs all matters consumer finance related CFPB now oversees RESPA CFPB regulates: Credit
More informationHERE S. TRID. ROBERT E. PINDER (904) ACC Quick Hit -- Truth-in-Lending Act/RESPA Integrated Disclosures Rule June 18, 2015
HERE S. TRID ACC Quick Hit -- Truth-in-Lending Act/RESPA Integrated Disclosures Rule June 18, 2015 ROBERT E. PINDER rpinder@rtlaw.com (904) 346-5551 HERE S. TRID 2 COUNTDOWN TO TRID TRID Goes into Effect
More informationFAQs About RESPA for Industry
FAQs About RESPA for Industry Scope of RESPA 1. What kinds of transactions are covered under RESPA? Transactions involving a federally related mortgage loan, which includes most loans secured by a lien
More informationABA Compliance School Foundational
ABA Compliance School Foundational Deposit/Operations Module March 10 13, 2018 Grand Hyatt Denver Denver, Colorado COURSE CATALOG aba.com 1-800-BANKERS October 2014 Session Emory Conference Center and
More informationIdentifying, Assessing and Mitigating Potential Redlining Risk
Identifying, Assessing and Mitigating Potential Redlining Risk Objectives Understanding Potential Redlining Risk Understanding the Reasonable Expected Market Area (REMA) vs CRA Assessment Area Understanding
More informationHow to Use This Service
BANKER S GUIDE TO COMPLIANCE How to Use This Service The Banker s Guide to Compliance is written in bankers language and intended for use by bankers. You need not be a lawyer or compliance expert to use
More informationCFPB Consumer Laws and Regulations
Regulation X Real Estate Settlement Procedures Act The Real Estate Settlement Procedures Act of 1974 () (12 U.S.C. 2601 et seq.) (the Act) became effective on June 20, 1975. The Act requires lenders, mortgage
More informationUnderstanding the Regulatory Compliance Framework for Commercial and Business-Purpose Mortgage Loans
ONE VOICE. ONE VISION. ONE RESOURCE. MBA s COMMERCIAL / MULTIFAMILY FINANCE Understanding the Regulatory Compliance Framework for Commercial and Business-Purpose Mortgage Loans IN COOPERATION WITH 18292
More informationLoan Originator Compensation Rules for Reverse Mortgages NRMLA Western Regional May 11, Jim Milano
Loan Originator Compensation Rules for Reverse Mortgages NRMLA Western Regional May 11, 2016 Jim Milano milano@thewbkfirm.com 1 Today s Agenda Loan Originator Compensation Rule (LO Comp) UDAAP RESPA FHA
More informationLENDING (LEND) Division
AFSA University Course List As of 4/1/2017 Lesson Name Lesson ID Module Duration Test Duration (Total mins. LENDING (LEND) Division General Vendor Management AFSA1001 30 10 40 Anti-Predatory Lending (with
More information6/21/2013. Section I. Purpose of Course. History and Overview of Mortgage Law, Regulation and Requirements
20 Hour Mortgage Loan Originator Certification Course Purpose of Course Gain historical perspective of mortgage lending Understand contemporary mortgage loan origination process Examine federal rules,
More informationMortgage Regulation Update
Presented by: Mortgage Regulation Update Wisconsin Credit Union League Convention 1 Objectives At the end of this session, you will: Recognize recent updates to existing mortgage rules TILA/RESPA Integrated
More informationCFPB National Servicing Standards, Are Servicers Ready?
CFPB National Servicing Standards, Are Servicers Ready? On January 13 th of this year the US Consumer Financial Protection Bureau (CFPB) published comprehensive rules establishing national servicing standards
More informationTIL/RESPA Final Rules on Integrated Mortgage Disclosures
TIL/RESPA Final Rules on Integrated Mortgage Disclosures CLAconnect.com Disclaimers The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting,
More informationRegulatory Compliance Update
Regulatory Compliance Update ACUIA Region 6 Conference Presented By: Kristie Kenney Hoover, NCCO Internal Audit Manager, Doeren Mayhew Florida Michigan North Carolina Texas Insight. Oversight. Foresight.
More informationCFPB and consumer protection hot topics. September 27, 2017
CFPB and consumer protection hot topics September 27, 2017 Today's speakers Tariq Mirza Principal and National Leader Compliance Risk Grant Thornton, LLP Tariq.Mirza@us.gt.com Thomas Vartanian Partner,
More informationABA Compliance School - Intermediate
ABA Compliance School - Intermediate March 14 16, 2018 Grand Hyatt Denver Denver, Colorado COURSE CATALOG aba.com 1-800-BANKERS October 2014 Session Emory Conference Center and Hotel Atlanta, GA aba.com
More informationUDAP Analysis, Examinations, Case Studies, and Emerging Risks
UDAP Analysis, Examinations, Case Studies, and Emerging Risks Outlook Live Webinar March 5, 2013 Maureen Yap, Special Counsel Art Zaino, Senior Compliance Manager Tracy Anderson, Manager Visit us at www.consumercomplianceoutlook.org
More informationFAIR LENDING: A MIXED BAG OF CONCERNS
Compliance is Everyone s responsibility every day! FAIR LENDING: A MIXED BAG OF CONCERNS Speaker: Leah M. Hamilton, Director TriComply About the Speaker 2 Leah M. Hamilton, JD Director of TriComply Services
More informationCompensation. November 16, 2016
Compensation November 16, 2016 Moderator: Robert Northway, Partner & Head of Consumer Banking and Global RE Practice, McLagan Speaker: Richard Andreano, Jr., Practice Group Leader, Ballard Spahr LLP Compensation
More informationRegulatory Practice Letter December 2014 RPL 14-22
Regulatory Practice Letter December 2014 RPL 14-22 Automobile Supervision and Enforcement Regulatory Actions and CFPB Proposed Rule Executive Summary The automobile finance industry is under heightened
More informationNew Jersey Bankers Association 2017 Compliance University Fair Lending Redlining Risks
New Jersey Bankers Association 2017 Compliance University Fair Lending Redlining Risks June 14, 2017 Presented by Rose N. Egbuiwe, Fair Lending Examination Specialist 1 Objectives Provide Insight on Fair
More informationDistance Learning 2018
Distance Learning 2018 Unmatched Financial Training for over 110 Years Independent Study Courses Credits Length Accounting II 3 4 months $595 Advertising 3 4 months $595 Agricultural Lending 3 4 months
More informationSection 1.35 Compliance Overview
Section 1.35 Compliance Overview In This Section This section contains the following topics: Overview... 2 General... 2 Overview... 2 Related Bulletins... 2 General... 2 Nationwide Mortgage Licensing System
More informationHosted By Mike Gallagher October 2017
Risk Management, Compliance and CRA Hosted By Mike Gallagher October 2017 Today s Agenda Risk Management Risk governance Enterprise Risk Management Operational Risk Management Categories of Risk Compliance
More informationThe TILA-RESPA Integrated Disclosures Rule consolidates. Estimate (GFE) into the Loan Estimate and. the Closing Disclosure
Agenda This training consists of three parts explaining the general requirements of the law that consolidated multiple disclosures into two separate forms; the Loan Estimate and the Closing Disclosure:
More informationTRID Update, Liability, and Cures. Presented By Richard Horn Richard Horn Legal PLLC
TRID Update, Liability, and Cures Presented By Richard Horn Richard Horn Legal PLLC The TRID Rule Past, Present, Future Richard Horn Legal PLLC Dodd-Frank Act sections 1032(f), 1098, and 1100A directed
More informationFacing Today s Real Estate Regulations
Proudly Sponsored by Facing Today s Real Estate Regulations Presented by Don Braspenninckx Day, June 11, 2016 1:30 p.m. 1 Introduction Numerous regulatory changes in the real estate industry within last
More informationABA Frontline Compliance Course Descriptions
ABA Frontline Compliance Course Descriptions Active Aggressor for Employees (35 minutes) New May 2017 Provides indicators of potential active shooters to prevent incidents. Explores the run, hide, or fight
More informationThe SoftPro Solution
The SoftPro Solution 1 The Final Rule Patrick Hempen SoftPro Corporation SVP Sales & Marketing patrick.hempen@softprocorp.com 2 The Goals of the Final Rule: Improved consumer understanding Risk factors
More informationFair Lending TILA and RESPA Integrated Disclosures ( TRID ) and Consumer Financial Protection Bureau ( CFPB )
Fair Lending TILA and RESPA Integrated Disclosures ( TRID ) and Consumer Financial Protection Bureau ( CFPB ) Presented by Anthony J. Sylvester, Esq. Craig L. Steinfeld, Esq. Sherman Wells Sylvester &
More informationMBBA-NH & MAMP. Compliance Conference. April 19, 2017
MBBA-NH & MAMP Compliance Conference April 19, 2017 Agenda HMDA Overview Readiness Steps HMDA Expansion Fields 2 New HMDA Rule Summary Changes to Home Mortgage Disclosure: Regulation C Types of institutions
More informationThe new Loan Estimate Form integrates and replaces the existing RESPA Good Faith Estimate and the initial Truth in Lending forms.
The Consumer Financial Protection Bureau s (CFPB) integrated mortgage disclosure rule will be effective August 1, 2015. This rule consolidates four existing disclosures required under Truth-in-Lending
More informationName: Brian Short, Kim Miller, Mike Simmons, Jim Tew Qualifications: Past TNAMP Instructors, all with over 20 years in the industry
8 Hour SAFE Comprehensive: Compliance in Action 2018 Course Description and Purpose This course satisfies the requirements set forth by the SAFE Act for a comprehensive 8-hour continuing education course
More informationThe CFPB s New Mortgage Disclosures
The CFPB s New Mortgage Disclosures Benjamin K. Olson March 10, 2015 Key Changes Effective August 1, 2015: GFE and initial TIL replaced with the Loan Estimate The items constituting an application are
More informationIndiana OR/WA/HI Tri-State Conference Mortgage Servicing. Sonia Lee Director, Affiliate Financial Service HFHI
Indiana 2015 OR/WA/HI Tri-State Conference Mortgage Servicing Sonia Lee Director, Affiliate Financial Service HFHI Mortgage Servicing Mortgage Servicing New Policy 24 Mortgage Loan Servicing What is mortgage
More informationRegulation X Real Estate Settlement Procedures Act
Regulation X Real Estate Settlement Procedures Act The Real Estate Settlement Procedures Act of 1974 (RESPA) (12 U.S.C. 2601 et seq.) (the Act) became effective on June 20, 1975. The Act requires lenders,
More informationBAI Learning & Development Webinar Q&A TILA-RESPA Integration Part 2 A New Way to Disclose
BAI Learning & Development Webinar Q&A TILA-RESPA Integration Part 2 A New Way to Disclose 1. Does the intent to proceed have to be received by all Applicants or just an applicant? Answer: The regulation
More informationReady. Set. know. Understanding TILA-RESPA Integrated Disclosure (TRID)
Ready. Set. know. Understanding TILA-RESPA Integrated Disclosure (TRID) How our competition is handling TRID. Relying on 3rd party vendors to provide material Communicating what we need to know through
More informationThe CFPB s TILA-RESPA Integrated Disclosure Rule: What You Need to Know for October 3rd. Paul Bugoni, Esq. Stewart Title Guaranty Company New York, NY
The CFPB s TILA-RESPA Integrated Disclosure Rule: What You Need to Know for October 3rd by Paul Bugoni, Esq. Stewart Title Guaranty Company New York, NY 1 2 The CFPB s TILA-RESPA Integrated Disclosure
More informationHABITAT FOR HUMANITY OF COLORADO. Looking Ahead: Mortgage Education 2016
HABITAT FOR HUMANITY OF COLORADO Looking Ahead: Mortgage Education 2016 FOCUS OF THIS CLASS Habitat sets forth 3 selection criteria: 1. Need 2. Ability to Repay 3. Willingness to Partner In the traditional
More informationNational Association of Federal Credit Unions Fair Lending Training (Part II)
National Association of Federal Credit Unions Fair Lending Training (Part II) April 23, 2014 Jeremiah S. Buckley, Partner Lori J. Sommerfield, Counsel Order of Presentation Key Players in Fair Lending
More informationCFPB Bulletin Date: February 11, Mortgage Servicing Transfers
CFPB Bulletin 2013-01 Date: February 11, 2013 Subject: Mortgage Servicing Transfers The Consumer Financial Protection Bureau (CFPB) is issuing this guidance to residential mortgage servicers and subservicers
More informationNational Mortgage Loan Originator Review Crammer (ml) Federal Mortgage-Related Laws
Course: Lesson: National Mortgage Loan Originator Review Crammer (ml) Federal Mortgage-Related Laws 1. According to HMDA, what must be forwarded to the regulator by March 1 of each year? A. Adverse Action
More informationCFPB Consumer Laws and Regulation
Secure and Fair Enforcement for Mortgage Licensing Act 1 The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 2 () was enacted on July 30, 2008, and mandates a nationwide licensing and registration
More informationTRID: THE BUCKET CHALLENGE
TRID: THE BUCKET CHALLENGE 2015 Temenos USA, Inc. All rights reserved. Leah M. Hamilton Chief Compliance Officer TriComply Services WHAT YOU WILL LEARN Good faith Changed circumstance The Tolerance Buckets
More informationHMDA Workshop Part IV: Fair Lending & HMDA
HMDA Workshop Part IV: Fair Lending & HMDA Sunday, Sept. 18, 2016, 4:45 pm Moderator: Richard H. Harvey, Jr., Chief Compliance Officer, Colonial Savings, F.A. Panelists: Melanie Brody, Partner, Mayer Brown
More informationthe Mortgage Process Designs for Learning
The Fundamentals of the Mortgage Process Designs for Learning 1 Legal Disclaimer The information presented in these training materials is based on guidelines and practices accepted within the mortgage
More informationSection 12.1: Regulation Z Mortgage Disclosure Improvement Act (MDIA) Policy
Section 12.1: Regulation Z Mortgage Disclosure Improvement Act (MDIA) Policy Background SecurityNational Mortgage Company (SNMC) shall comply with the Housing and Economic Recovery Act of 2008 (HERA) which
More informationTILA / RESPA Integration
The Times, They Are A-Changing (Again)! presented by Jack Konyk Executive Director, Government Affairs OwnOK The Future of Oklahoma Real Estate Feb. 12, 2015 Petroleum Club Oklahoma City, OK 2 Upcoming
More informationCHANGING THE WORLD OF REAL ESTATE. Presented By: THOMAS RICHARDSON
CHANGING THE WORLD OF REAL ESTATE Presented By: THOMAS RICHARDSON 1. What is the CFPB? 2. A World of Acronyms 3. The Qualified Mortgage 4. RESPA 5. Closing Disclosures vs. HUD 6. Lender Liability 7. Best
More informationMortgage Banking. Solutions in Compliance, Transactions, and Defense. Attorney Advertising
Mortgage Banking Solutions in Compliance, Transactions, and Defense Attorney Advertising The mortgage banking industry is changing rapidly. We offer broad regulatory experience, formidable skill in litigation,
More informationEMERGING CONSUMER RISKS FOR COMMUNITY BANKS
November 14, 2016 1 EMERGING CONSUMER RISKS FOR COMMUNITY BANKS 2016 ANNUAL RISK MANAGEMENT CONFERENCE NOVEMBER 14, 2016 November 14, 2016 2 Paul J. Stark, SVP & Chief Credit Officer Civista Bank, Sandusky
More informationFINANCIAL SERVICES ENFORCEMENT ACTIONS TRACKER - Q4 2016
FINANCIAL SERVICES ADVISORY AND COMPLIANCE FINANCIAL SERVICES ENFORCEMENT ACTIONS TRACKER - Q 16 In Q 16, the number of regulatory actions increased by approximately 29 percent, driven by a 0 percent increase
More informationSection 1.35 Compliance Overview
Section 1.35 Compliance Overview In This Section This section contains the following topics: Overview... 2 Related Bulletins... 2 Nationwide Mortgage Licensing System Registry (S.A.F.E. Act)... 3 Nationwide
More informationThe CFPB. What Lenders And Servicers Must Know. Joseph M. Welch, Esq.
The CFPB What Lenders And Servicers Must Know Jason E. Goldstein, Esq. 18400 Von Karman Avenue, Suite 800 Irvine, California 92612 0514 (949) 224 6235 jgoldstein@buchalter.com Joseph M. Welch, Esq. 18400
More informationWELCOME! Are You Ready for TRID?
1 WELCOME! www.grantsimon.com Are You Ready for TRID? 2 Dodd Frank the CFPB & You Featuring TRID TRID TILA-RESPA INTEGRATED DISCLOSURE 3 Ready For It New Jargon Lender Borrower Closing GFE & TIL HUD 1
More informationCFPB PROPOSED REGULATIONS
CFPB PROPOSED REGULATIONS TILA/RESPA DISCLOSURES For more than 30 years, 2 different disclosure forms to consumers applying for a mortgage Developed by 2 different federal agencies under 2 federal statutes:
More informationRegister. Regulatory Compliance. Regulatory Compliance. Lending Compliance
Regulatory Compliance Regulatory Compliance Register Lending Compliance In today s rapidly evolving economy, lenders must have expert knowledge of the latest federal regulation changes that determine banks,
More informationHow to Ace Your CFPB Exam
How to Ace Your CFPB Exam May 25, 2016 Moderator Alan S. Kaplinsky Practice Leader Consumer Financial Services 215.864.8544 kaplinsky@ballardspahr.com Panelists Richard J. Andreano, Jr. Practice Leader
More informationWELCOME!
WELCOME! www.grantsimon.com Are You Ready for TRID? Dodd Frank the CFPB & You Featuring TRID TRID TILA-RESPA INTEGRATED DISCLOSURE Ready For It New Jargon Lender Borrower Closing GFE & TIL HUD 1 & TIL
More informationDistance Learning 2018
Distance Learning 2018 Unmatched Financial Training for over 110 Years Independent Study Courses Credits Length Accounting II 3 4 months $595 Advertising 3 4 months $595 Agricultural Lending 3 4 months
More informationMortgage Procedures and Regulations (MPAR)
Mortgage Procedures and Regulations (MPAR) Real Estate Settlement and Procedures Act (RESPA) Phase Sonia Lee Director, Affiliate Financial Service Agenda Today s goal: Equip participants with working knowledge
More informationTruth in Savings Advertising Requirements Impacting Social Media
Truth in Savings Advertising Requirements Impacting Social Media John Zasada Principal 218 790 1086 1 1 Credit Union Compliance Practice Review advertisements, websites and social media for compliance
More informationPerspectives on TRID and the Future of Real Estate Closings USA Center for Real Estate and Economic Development Presented by Warren Laird, Associate
Perspectives on TRID and the Future of Real Estate Closings USA Center for Real Estate and Economic Development Presented by Warren Laird, Associate Senior Counsel STEWART TITLE GUARANTY COMPANY 1 History
More informationTRID RULE UPDATES AND THE BLACK HOLE CONUNDRUM JONATHAN FOXX *
TRID RULE UPDATES AND THE BLACK HOLE CONUNDRUM JONATHAN FOXX * On August 11, 2017, the Consumer Financial Protection Bureau ( Bureau ) issued a Final Rule (2017 TILA-RESPA Rule or 2017 Rule, hereinafter
More informationThe TILA-RESPA Integrated Disclosure (TRID) Rule. Compiled by: 110 Title, LLC
The TILA-RESPA Integrated Disclosure (TRID) Rule Compiled by: 110 Title, LLC 1 I. Introductory Note The Dodd-Frank Wall Street Reform Act and Consumer Protection Act of 2010 (Dodd-Frank), ushered in the
More informationPolicy or Policies. Commercial, Lending policy. Consumer, Business Loans Originations & Servicing. Loan origination. Lending policy.
Bank: as of date TABLE OF LAWS AND REGULATIONS CONSUMER PROTECTION LAW...AND MORE (Does not include BSA/AML/OFAC/CIP) REG NAME/Recent Update - Blue generally not included in Consumer Compliance, purple
More informationA Review and Analysis of the CFPB s Focus and Enforcement Activity related to Mortgage Origination and Servicing. By: Elizabeth Bohn 1
A Review and Analysis of the CFPB s Focus and Enforcement Activity related to Mortgage Origination and Servicing By: Elizabeth Bohn 1 Title X of the Dodd-Frank Wall Street Reform and Consumer Protection
More informationDavid K. Stein. Partner. Professional & Community Activities
David Stein is chair of Bricker & Eckler's Banking & Financial Services group and maintains a national practice in this area of law. He advises businesses on consumer-facing issues, including real estate,
More informationTHE CLOSING DISCLOSURE
THE CLOSING DISCLOSURE Coverage: Most Closed-End Consumer Mortgages Not HELOCs, reverse mortgages or mobile home loans not attached to real property Agency/Citation: Consumer Financial Protection Bureau
More informationAdam P. Jaskievic Associate Attorney American Mortgage Law Group, P.C.
Adam P. Jaskievic Associate Attorney American Mortgage Law Group, P.C. Mr. Jaskievic is an associate attorney with the American Mortgage Law Group, P.C. s Boston, Massachusetts office. He routinely advises
More informationFair Lending Hot Topics
Fair Lending Hot Topics Outlook Live Webinar October 17, 2012 Non-Discrimination Working Group of the Financial Fraud Enforcement Task Force Visit us at www.consumercomplianceoutlook.org informational
More informationIs Your Mortgage Technology Really TRID-Ready?
Prepared by ComplianceEase September 2015 When the Consumer Financial Protection Bureau (CFPB) moved the effective date of the new TILA-RESPA Integrated Disclosure (TRID) rule from August 1 to October
More informationAnand S. Raman Bank Counsel Conference. November 13, Skadden
Fair Lending Update Anand S. Raman Louisiana Bankers Association 2008 Bank Counsel Conference November 13, 2008 Loan Modification Becomes Central Focus FDIC IndyMac plan Massachusetts AG action against
More informationInCompliance Update White Paper 2017
InCompliance Update White Paper 2017 About the Author... Martin (Marty) Mitchell has over 18 years of experience in the regulatory compliance field. After retiring from a successful career as a U.S. Army
More informationCopyright 2013 Carey Green - 1
Copyright 2013 Carey Green - 1 Mortgage Law Study Charts These charts are intended for use as a study-aid, not as compliance documents or official policies of any kind. Copyright 2013 Carey Green www.passthesafeexam.com
More informationRegulation by Enforcement CFPB s Use of UDAAP
Regulation by Enforcement CFPB s Use of UDAAP December 5, 2016 David Piper Cheryl Chang Dodd-Frank Act Dodd-Frank Act Consumer Financial Protection Bureau (CFPB) CFPB has independent rulemaking and enforcement
More informationCompliance Risk Assessments Chicago Region Banker Workshop Series
Compliance Risk Assessments 2016 Chicago Region Banker Workshop Series Statement During the onsite portion of a compliance examination, examiners review adherence to all consumer protection-related regulations.
More informationTRID TILA RESPA Integrated Disclosures. Presented by David Luna
TRID TILA RESPA Integrated Disclosures Presented by David Luna Thank you I d like to thank the many sources of information: the Attorney s, Creditors, Title, Credit providers and the CFPB for the information
More informationConsumer Financial Protection Bureau Update
Consumer Financial Protection Bureau Update Patricia Scherschel February 2016 Student Lending Program Manager Installment Lending and Collections Markets Division of Research, Markets, and Regulations
More information