Real Estate Series:
Mortgage Loan Disclosure Timing Issues
Webinar OR Recorded Webinar + Free Digital Download
Tuesday, December 12, 2017
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
The constant change to mortgage disclosures has resulted in numerous revisions to lenders’ procedures, including the timing of disclosures to applicants and borrowers. This program will review the timing requirements for various mortgage loan disclosures and analyze the required timeframes for providing HELOC and closed-end consumer mortgage transaction disclosures. Specific attention will be paid to the timing requirements for the Loan Estimate, Closing Disclosure, and other TRID-related disclosures, including the Written List of Providers. Lenders will learn when a revised Loan Estimate is required and when revised Loan Estimates can be issued to reset tolerance levels. Rescission notices, escrow closing notices, and mortgage servicing transfer notices will also be covered.
Examiners and auditors are focusing on mortgage loan disclosures and regularly cite lenders for compliance violations related to late or missing disclosures. Attendees will receive details on the various required mortgage loan disclosures and specific timeframes and will be able to use that information to perform audits and analysis of their disclosure procedures.
- Timing requirements for Loan Estimates, revised Loan Estimates, and Closing Disclosures
- Timing requirements for HELOC application disclosures and account opening disclosures
- Restrictions on charging fees prior to an applicant’s receipt of the Loan Estimate and provision of intent to proceed for TRID loans
- Requirements related to providing disclosures for electronically submitted applications
- Documentation requirements for intent to proceed, changed circumstances, and borrower receipt of required disclosures
- Waiting periods prior to consummation and TRID requirements for providing a corrected Closing Disclosure post-consummation
- Summary of TRID definitions of “application” and the two definitions of “business day”
- Examiner procedures related to mortgage disclosure timing requirements
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session is designed for consumer lenders who originate HELOCs and closed-end mortgage transactions, mortgage lenders, compliance staff, and audit teams.
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 – Steven Van Beek, Esq., NCCO, Howard & Howard Attorneys PLLC
Steve Van Beek is an attorney at Howard & Howard Attorneys PLLC where he concentrates his practice in the area of financial regulations. He has intimate knowledge of the operational issues facing financial institutions and the best practices they can follow to reduce compliance, strategic, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.
THREE REGISTRATION OPTIONS
Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
1. LIVE WEBINAR
The live webinar option allows you to have one internet connection from a single computer terminal. You may have as many people as you like listen and watch from your office computer. Registrants receive a website address and passcode that allows entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, passcode, and handouts will be emailed prior to the broadcast. You will need the most-current version of Adobe Reader available free at www.adobe.com.
2. RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 6 business days after the webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.
The recorded webinar may ONLY be ordered for 6 months following the live webinar. In addition, the download must be completed within 6 months of the live webinar date.
3. BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Options 1 and 2 described above.
AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE