Course Description
Program Description
Top Issues Attorneys and Mortgage Lenders and Servicers Need to Focus on Before the August Deadline
No matter what type of financial institution you own or work for, the Consumer Financial Protection Bureau (CFPB), along with state regulators, currently have you in their sights. Are you aware of what triggers an examination? Do you know what they are currently looking for and finding during these exams? Get these and other urgent questions answered at this practical program that was specifically created to help you prepare for (and tackle) the top areas of focus regulators are concentrating on. Don't miss this rare opportunity to hear directly from seasoned industry professionals that handle these issues every day - register today!
Identify top trends, violations and penalties, including lack of readiness.
Learn what the new, multifaceted definitions of "application" and "business day" are.
Understand how good faith is determined under the new rules and regulations.
Discover what the top re-financing issues are that the CFPB is finding - and how to avoid them.
Loan originator compensation - are you sure you're in compliance? What you may not know.
Review critical changes to loan modifications and loss mitigation under the new rules.
Who Should Attend
This basic-to-intermediate level, regulatory compliance program is designed to equip the following professionals with last-minute preparation checklists and guidance before the August deadline:
Attorneys
Mortgage Lenders from Local and Community Banks and Credit Unions
Mortgage Loan Servicing Managers, Servicers and Service Providers
Senior Management and Department Supervisors of Financial Institutions
Title Insurance Professionals
Real Estate Professionals
Paralegals
Course Content
State and Federal Regulatory Update
Top RESPA/TILA Pitfalls
What Triggers an Examination? (Review of Sample Checklist)
Managing Third Party Vendor Relationships
Loan Originator Compensation - Top Areas of Concern (and Remedies)
Loss Mitigation/Loan Modification, Refinancing and Foreclosure - New State and Federal Requirements
Mortgage Servicing and Error-Resolution Process
Ethical Risks in the New Regulatory Environment
Continuing Education Credit
Continuing Legal Education
Credit Hrs State
CLE 6.00 - KY*
CLE 6.00 - OH*
Financial Planners – Financial Planners: 7.00
Institute of Certified Bankers – ICB: 7.25 *
Insurance – Insurance: 5.50 *
International Association for Continuing Education Training – IACET: 0.60
Professional Achievement in Continuing Education – PACE: 7.00
Real Estate – Real Estate: 6.00
Agenda
Agenda / Content Covered
State and Federal Regulatory Update
9:00 - 10:00, Nathan H. Blaske
What do the New Rules Say? What Problems Exist?
New Causes of Action Available
Changes to Dodd-Frank
FHA-Backed Mortgages
Interplay of CFPB Regs with FDCPA and Bankruptcy
Surviving Spouse/Deceased Borrower
Private Mortgage Lending Prohibitions Under Dodd-Frank
Top RESPA/TILA Pitfalls
10:00 - 10:45, Nathan H. Blaske
Responding to QWRs
Boiling Down the Critical Provision Pitfalls
New CFPB Terms/Definitions to Know
RESPA Section 8: Kickbacks/Unearned Fees; HUD Rulings and Interpretations
Affiliated Business Arrangements: Avoiding RESPA Violations
Servicing Transfer Traps for the Unwary
What Triggers an Examination? (Review of Sample Checklist)
11:00 - 11:45, Sarah C. Alford and Alex E. Wallin
Managing Conflicting State and Federal Regulations/Examinations
Top Areas Regulators are Focusing on (State and Federal)
State Regulator Perspective
Lessons to be Learned from Recent Examinations and Enforcement Actions
CFPB Expectations for Different Types of Servicers and Parties
Best Practices for Preparing (and Avoiding) an Examination
Managing Third Party Vendor Relationships
12:45 - 1:15, Sarah C. Alford and Alex E. Wallin
Loan Originator Compensation - Top Areas of Concern (and Remedies)
1:15 - 1:45, Nathan M. Little
Loss Mitigation/Loan Modification, Refinancing and Foreclosure - New State and Federal Requirements
1:45 - 2:45, Sarah C. Alford and Alex E. Wallin
Federal
Application and Review
Dual Tracking
Interaction of Federal and State Regs
The CFPB's Effect
Defining "Application"
120 Day Waiting Period Clarified
When do Exceptions Apply?
Final Mortgage Servicing Rules
State Foreclosure Avoidance Programs/Policies
A New Wave of Foreclosure Defense
Complex Lender Liability Issues
Problematic Areas (Intercreditor Agreements, Receiverships, Guarantor Liability, etc.)
Mortgage Servicing and Error-Resolution Process
3:00 - 3:30, Sarah C. Alford and Alex E. Wallin
Ethical Risks in the New Regulatory Environment
3:30 - 4:30, Nathan M. Little
Required Communications to Debtors
Disclosure of Information to Regulators
Reporting Misconduct and Harassment
Reporting FTC Noncompliance
Cumulative Effect of Dodd-Frank