Mortgage Lender Training Part 3: Mortgage Life-of-Loan: Decision-Making, Appraisals, Post-Closing Requirements

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Examiners expect compliance with the annual training requirements of the mortgage loan originator rules. Can you prove that training has been provided and that it was effective? This three-part mortgage lending training series will outline the required steps at each point of the mortgage lifecycle. Part 3 will focus on the end of the mortgage lifecycle and the requirements when a loan application has been denied, withdrawn, or approved not accepted.

HIGHLIGHTS

  • Pain points in providing accurate closing disclosures and post-closing disclosures 
  • April 28, 2018, CFPB amendments: what happens when estimated charges change after the closing disclosure has been delivered?
  • What rescission rules must be followed?  When do they apply?
  • What RESPA rules still apply? 
  • Denied loan notifications 
  • How should withdrawn and approved-not-accepted loan applications be documented?
  • Review of HMDA reporting and selected portions of the 2018 rules  
  • Note: new rules are expected due to passage of Senate Bill 2155 for regulatory relief
  • Flood insurance calculation examples 

TAKE-AWAY TOOLKIT

  • Matrix of 28 types of consumer and commercial real-estate-secured loans showing requirements and disclosures timetable 
  • Checklist for consumer-purpose, closed-end loans secured by real property 
  • HMDA flowchart under the 2018 rules
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key

DON’T MISS PARTS 1 & 2!

This program is the last of three in a series.

WHO SHOULD ATTEND?
This informative session is designed for mortgage lenders, compliance officers, auditors, loan officers, loan assistants, and loan administration staff. Both new and seasoned staff will benefit.

PLEASE NOTE: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.

ABOUT THE PRESENTER – Susan Costonis, CRCM, Compliance Consulting and Training for FIs
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples. 

Originally recorded on November 14, 2018.

Recorded webinar is available until May 31, 2019.

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

Price includes sales tax.