Webinar

Regulation Z – The First Wave

In January, the CFPB published over 3,500 pages of new regulations, including extensive modifications to Regulation Z. The first four requirements take effect June 1. This program explains the new prohibitions and rules and provides guidance on implementation.

During 10 days in January the Consumer Financial Protection Bureau published over 3,500 pages of new regulations, including very extensive modifications to Regulation Z (Truth in Lending). Now the first wave of those new Regulation Z rules are taking effect.

On June 1, 2013 the first four requirements take effect. Those rules include:

  • A prohibition on mandatory arbitration clauses;
  • A prohibition on certain waivers;
  • A prohibition on financing credit insurance; and
  • New and revised requirements for escrows on higher-priced mortgage loans (HPML).

Highlights

  • For the prohibition on mandatory arbitration:
    • Which transactions are subject to the prohibition against mandatory arbitration in §1026.36(h)(1);
    • When arbitration is allowed; and
    • What action is required to assure compliance;
  • For the prohibition on waivers:
    • Which transactions are subject to the prohibition against waivers in §1026.36(h)(2);
    • What action is required to assure compliance;
  • For the prohibition against financing credit insurance:
    • Which transactions are subject to the prohibition against financing credit insurance in §1026.36(i)(1);
    • What types of insurance are included in or excluded from the definition of  “credit insurance;”
    • What is permitted or not permitted as far as “financing directly or indirectly;” and
    • What action is required to assure compliance;
  • For the new and revised requirements for escrows on higher-priced mortgage loans:
    • The new definition of a higher-priced mortgage loan;
    • The revised exemption from escrowing for insurance when the property is covered by a master insurance policy;
    • The new exemption from escrowing for any HPML if the institution extends more than 50% of its total covered loans in rural or underserved areas and meets several other conditions;
    • Revised conditions under which an escrow can be cancelled; and
    • What action is required to assure compliance

Audience

Loan originators, loan officers, lending assistants, compliance officers and auditors.

Speaker

Jack Holzknecht, CRCM, Pegasus Educational Services, LLC

Credit Information

Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 hrs.CRCM/CPB/CLBB.

Pricing

Live Webinar:

Member price: $265.00 | Non member price $530.00

On-Demand Webinar

Member price: $280.00 | Non member price $560.00

Registration

Online: Visit the CBA Webinar Catalog

Mail: Click here and mail completed form with check payable to ConferenceEdge to: (Mail at least 10 days prior to event)

ConferenceEdge
4434 W. 29th St., Denver, CO  80212

Phone: Call ConferenceEdge at (877) 988-7526 (credit card payments only)

Please Note:

  • Preferred Payment Method: Online
  • Please register online or by phone when paying with a credit card
  • Payment Must Accompany Registration – Invoices are Not Provided

Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.

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