Description: The purpose of this course is to provide an overview of the structure and core requirements of Regulation Z, as well as exercises to aid in complying with the regulation. This course explains the closed-end portion of Regulation Z, including key terminology and requirements for disclosures provided before and during loan consummation. It explores the features of high cost mortgages, higher priced mortgages and qualified mortgages.  

Students will learn through a combination of instructor videos, exercises, readings, glossaries, self-assessments and more. Students will complete the course with a final exam to earn Certified Regulatory Compliance Manager (CRCM) credits.

Audience: Compliance professionals including compliance managers, officers, and other compliance team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, auditors and lending compliance professionals.

Learning Objectives: After completing this course, students will gain a fundamental understanding of Regulation Z Closed-End Credit and learn how to:

• Describe the structure and content of the closed-end portion of Regulation Z
• Explain coverage under Regulation Z
• Calculate the finance charge and amount financed
• Describe the difference between the annual percentage rate (APR) and the interest rate
• Explain the timing and format of early disclosures
• Explain items that must be included with transaction disclosures
• Describe the characteristics of high cost mortgages, higher priced mortgages and qualified mortgages