Handling Loan Applications – Required Training for Loan Originators
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 applications and inquires?
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 now 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.” (Source: 1026.36(f)(3)(iii) commentary). ATTEND THIS SESSION TO SATISFY A PORTION OF THE REQUIRED COMPLIANCE TRAINING for all LOAN ORIGINATORS.
START 2015 BY COMPLETING A TRAINING REQUIREMENT.
- Learn what specific information will help you to handle applications correctly.
- What are the top five mistakes made in application processing?
- What are the timing requirements regarding applications?
- When does an application have to be in writing? Does it have to be signed?
- What are the signature rules for applications?
- Learn about the required disclosure for the “Right to Receive a Copy of Appraisal”. Who gets the notice and what are the timing rules? (NOTE: This requirement became effective January 18, 2014).
- 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?
- When can a co-signer be requested?
- What are some practical suggestions and best practices?
This interactive session is a cost-effective way to gain a greater understanding of the rules about accepting and processing applications. This informative session will benefit loan officers, loan assistants, loan operations staff, compliance officers, auditors, and trainers.
Susan Costonis is a compliance consultant and trainer. She frequently provides consulting services to financial institutions regarding fair lending and other compliance management issues. Her 36 year career in banking and training began with 20 years at First National Bank, an affiliate of Wells Fargo Bank, in Fort Collins, CO. Susan has been a bank compliance consultant or compliance officer in Louisiana since 1998.
During her career, Susan has successfully managed compliance programs and exams for institutions supervised by the OCC, FDIC, and Federal Reserve. She is a Certified Regulatory Compliance Manager and completed the ABA Graduate Compliance School and the Graduate Banking School of the University of Colorado. Susan regularly presents seminars to financial associations.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
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