A series of 6 webinars for real estate lending staff!
Real estate lending is undergoing some of the greatest changes in its history with numerous new rules and regulations set to go into effect in 2014. In addition to the historic regulatory changes, credit unions are experiencing unprecedented growth in real estate loans. As the housing market rebounds and consumer confidence increases, 2014 will be an opportune time to increase – or establish – your credit union’s real estate lending program. This series of webinars will help you understand and manage the new rules, risks, and compliance challenges.
This is a cost-effective way to obtain training on a broad range of real estate-specific topics. Those seeking the most knowledge may attend all sessions, while more-experienced staff may select individual webinars according to their needs. You may register for the entire series or for individual sessions. By signing up for the entire series, you will receive 6 webinars for the price of 5. It’s a simple, cost-effective solution for real estate lenders.
- Construction to Permanent Lending Under the New CFPB Mortgage Rules
- RESPA Essentials & Overview
- Ability to Repay – Are You in Compliance with the New CFPB Rules?
- Avoiding HMDA Reporting Mistakes
- Escrow Account Compliance
- Residential Appraisal Review
Session Dates & Descriptions
12:00 pm – 1:30 pm Pacific
1:00 pm – 2:30 pm Mountain
2:00 pm – 3:30 pm Central
3:00 pm – 4:30 pm Eastern
Click on presenters’ names below for more information.
February 13, 2014
Construction to Permanent Lending Under the New CFPB Mortgage Rules
Bill Elliott, Young & Associates, Inc.
For many years, construction/permanent lending has been the primary vehicle for construction lending. The “one time” closing made it easier for the credit union and easier for the member. Unfortunately, the new CFPB rules make construction/permanent lending problematic at best, and impossible at the worst. Construction-only followed by permanent financing (two closings) is the best way to avoid regulatory problems and improve profitability. This webinar will focus on the reasons for doing construction-only loans followed by permanent financing, the financial incentives to do so, and the proper approaches to avoid regulatory issues.
March 5, 2014
RESPA Essentials & Overview
Mary-Lou Heighes, Compliance Plus, Inc.
Did you know that RESPA covers both open- and closed-end loans? Do you know when RESPA does not apply to an application? RESPA covers so much more than just the Good Faith Estimate and Settlement Statements (and will cover even more in 2014!). This webinar is designed to provide a good overview of all RESPA components, from the definition of application to the requirements for servicing mortgage loans, including the new error resolution and information request processes with which you must comply. Escrow calculation and notification requirements, servicing practices, and much more will be outlined in this program.
April 23, 2014
Ability to Repay – Are You in Compliance with the New CFPB Rules?
Bill Elliott, Young & Associates, Inc.
The ability to repay (ATR) rule is straightforward – make sure your member has the ability to repay the loan. Do you know all the regulatory requirements and the pitfalls that can occur during this process? This program will cover proper techniques for completing this process and review the legal requirements for all sizes of financial institutions. Ensure that you have everything in place so that when your regulators arrive, they find an organized ATR process and a compliant institution.
July 30, 2014
Avoiding HMDA Reporting Mistakes
Susan Costonis, Compliance Consulting and Training for Financial Institutions
The CFPB fined a “non-bank” mortgage company $425,000 in 2013 for HMDA reporting errors and sent a strong message to regulators that “getting it right” is important. How can you avoid these fines, penalties, and headaches? What does the HMDA data tell regulators about potential fair lending problems? This seminar will cover the basic requirements for accurate HMDA data collection. Learn how to use the HMDA “Getting it Right Guide” and other tools to help streamline your efforts and detect potential reporting errors. Other topics in this session will include:
- Step-by-step data collection definitions and helpful tips
- Common HMDA reporting errors
- Best practices for HMDA data validation
September 3, 2014
Escrow Account Compliance
Ann Brode, Brode Consulting Services, Inc.
Getting escrow right is very important to the borrower, your credit union, and the examiners. It involves many requirements, including initial analysis and disclosure, annual disclosures, recordkeeping, and more. For example, RESPA, TILA, and flood compliance regulations all address when escrow is required. This webinar will review the entire process, and reveal common errors and examiner citations that highlight the “hot buttons.” Checklists will be provided to ensure your credit union complies with the escrow requirements and that your disclosures and statements are complete, compliant, and correct.
December 9, 2014
Residential Appraisal Review
Heidi Lee, Appraisal Review & Consultation
It is not enough in the current regulatory environment to separate the lending and appraisal functions. How do you know if the people who review the residential appraisals ordered by your credit union are sufficiently qualified? How do you equip your residential reviewers to do their job? This webinar will cover general residential review concepts and examine in detail a suggested residential review form that will be provided to all webinar participants.