Do you know how the term "application" is defined in all of the lending regulations? Do your lenders and front line staff understand the difference between an application and an inquiry? Join this fast-paced webinar to understand the application process with step by step instructions and actual examples that explain the requirements of several confusing regulations in terms that are easy to understand.
BONUS - Reg Z REQUIRES that loan originators have "periodic training" to ensure "knowledge of Federal legal requirements that apply to the individual loan originator's loan origination activities." This session will satisfy a significant portion of this 2018 TRAINING REQUIREMENT.Covered Topics:
Who Should Attend
- Learn what specific information will help you to handle applications correctly
- What are the top five mistakes made in application processing?
- Overview of application and timing of disclosures for consumer, mortgage, and commercial loan applications
- When does an application have to be in writing? Does it have to be signed? What are the signature rules for applications?
- What are the rules for appraisal copies? Reg B did NOT exempt commercial purpose loans secured by a 1st lien on a 1-4 dwelling
- How do you properly document the “joint intent” to apply?
- When is an adverse action notice required? What must it contain? Who receives one?
- When can you pull a credit bureau? What documentation should be kept?
- Recap of the collection of "demographic information" for HMDA reportable applications under the 2018 rules
This informative session will benefit loan officers, loan assistants, loan operations staff, compliance officers, auditors, and trainers. Covered topics will be included for consumer, mortgage, and commercial lenders.
Susan Costonis is a compliance consultant and trainer. 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.