Congress has consistently provided special protection to consumer loan borrowers, especially those who secure loans with their home. There has been an explosion of new lending requirements over the past few years.
The program provides an overview of the real estate lending requirements from ten regulations, along with comprehensive coverage of selected topics, policy suggestions, employee training tips, audit techniques and steps to eliminate past problems. Emphasis is placed on coverage and exemption rules, determining which disclosures are required, the content of the required disclosures and prohibited acts or practices.
Every year major changes appear and this year is no exception. The continued expansion of the integrated disclosure rules (TRID) continues with massive changes published in July 2017, with mandatory compliance on October 1, 2018. The new Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) was signed into law on May 24, 2018. It impacts several sections of Regulation Z. Some of the revised provisions were effective upon enactment, other sections are delayed. Clarification to Regulation B government monitoring information requirements has been published. Massive revisions to HMDA/Regulation C were effective January 1, 2018 and are impacted by EGRRCPA. The program and the manual have been completely updated for these rules.
The following laws and regulations are covered:
- Truth in Lending Act (Regulation Z) – includes final TRID rules effective October 1, 2018, a recent final rule dealing with the “black hole” that is effective on June 1, 2018, and a review of EGRRCPA revisions;
- Real Estate Settlement Procedures Act (Regulation X) – includes a review of final servicing rules that were effective April 19, 2018;
- Equal Credit Opportunity Act (Regulation B) - includes clarification on the revised rules for collection of government monitoring information and the new residential mortgage loan application;
- Fair Housing Act - includes a review of recent enforcement actions and an explanation of the reasonably expected marketing area (REMA) concept;
- Home Mortgage Disclosure Act (Regulation C) – includes the major new Regulation C rules that are effective for the most part on January 1, 2018 and a review of EGRRCPA revisions;
- Flood Insurance Rules – includes the Private Flood Insurance rules for which final rules are pending;
- Homeowners Protection Act;
- Fair Credit Reporting Act – includes a review of the EGRRCPA revisions;
- Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) – includes a review of the EGRRCPA revisions; and
- Unfair, Deceptive or Abusive Acts or Practices.
Where else can you find:
- Comprehensive coverage of 10 major federal real estate lending compliance topics in two information packed days; and
- A 300-page manual that serves as a handbook long after the program has ended.
The program is designed for Compliance Officers, Loan Officers, Loan Processors, Auditors, and others with responsibilities related to the origination and servicing of mortgage loans..
Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 42 years. In 37 years as a trainer over 130,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.