Denied Loan Requirements: Consumer, Commercial & Real Estate

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With increased examination focus on fair lending, regulators are carefully scrutinizing denial notices for compliance with Regulation B and fair lending standards. This webinar will cover proper and timely handling of denial notices in accordance with Reg B. In addition, it will address how to include denials in your sample for internal comparative file review for fair lending compliance.

Since examiners are turning up the heat on adverse action notices, your staff must know the ins and outs of the compliance requirements. Accurate completion of adverse action notices is important for several reasons:

  • Their accuracy and timeliness are reviewed during compliance exams
  • Adverse action notices are the cornerstone to fair lending examinations
  • Inconsistent, inaccurate notices could cause your institution to be required to go back six months, review past notices, and resend accurate denial notices. (Imagine the reaction of a past unsuccessful borrower who receives a reminder denial notice!)

HIGHLIGHTS

  • Inquiry vs. application? Clear identification and documentation of when you have an application is key
  • FACT Act requirements for denial notices
  • What are the requirements for incomplete or withdrawn applications?
  • Handling counteroffers
  • Common errors in completing adverse action notices
  • Second reviews of adverse action notices for fair lending purposes
  • Comparative file review for fair lending on denials
  • TAKE-AWAY TOOLKIT
  • Cheat sheet to help lending staff understand what each denial reason on the notice means and which ones to use in different scenarios
  • Sample fair lending policy statement that links adverse action and fair lending
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is necessary for all loan officers, loan processors responsible for denials, compliance officers, and auditors.

ABOUT THE PRESENTER – Ann Brode-Harner, Brode Consulting Services, Inc.

Ann Brode-Harner began her career in 1973 and has continued her service as a consultant to regional and community financial institutions through a wide range of areas including strategic planning, lending, deposits, marketing, training, compliance, and management. Ann is a well-respected presenter and has spoken to audiences across the country for over 30 years. She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin as well as many other state banking schools. Ann is the author of “The Bank Deposit Documentation Manual for Front-Line Personnel” published by Bankers Publishing Company, and is well represented in numerous industry publications.

Originally recorded on April 24, 2018.

Recorded webinar link is available until October 31, 2018.

Free Digital Copy included with purchase to download and view beyond link expiration date.

Price includes sales tax.