Course Description
Program Description
Top Issues Attorneys and Mortgage Lenders Need to Focus on Before the August Deadline
No matter what type of financial institution you own or work with, 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.
Uncover what regulators expect from your Compliance Management System (CMS) and HMDA data.
Learn what the new, multifaceted definitions of "application" and "business day" are.
Understand how good faith is determined under the new rules and regulations.
Find out how to accurately manage third party vendor relationships and remain in compliance with the CFPB.
Discover what the top re-financing issues are that the CFPB is finding - and how to avoid them.
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
Top RESPA/TILA Pitfalls
What Triggers an Examination? (Review of Sample Checklist)
Managing Third Party Vendor Relationships
Loss Mitigation/Loan Modification, Refinancing and Foreclosure - New State and Federal Requirements
Ethical Risks in the New Regulatory Environment
Overview of Litigation Developments Relating to Mortgage Services
Continuing Education Credit
Continuing Legal Education – CLE: 6.00 *
Financial Planners – Financial Planners: 7.00
Institute of Certified Bankers – ICB: 7.25 *
International Association for Continuing Education Training – IACET: 0.60
Professional Achievement in Continuing Education – PACE: 7.00
Real Estate – Real Estate: 7.00
Agenda
Agenda / Content Covered
Top RESPA/TILA Pitfalls
9:00 - 10:00, Wendy Walter
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)
10:15 - 11:15, John L. Bley
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
11:15 - 12:15, Wendy Walter
Loss Mitigation/Loan Modification, Refinancing and Foreclosure - New State and Federal Requirements
1:15 - 2:15, Wendy Walter
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.)
Ethical Risks in the New Regulatory Environment
2:15 - 3:15, Jeffrey B. Wells
Required Communications to Debtors
Disclosure of Information to Regulators
Reporting Misconduct and Harassment
Reporting FTCP Noncompliance
Cumulative Effect of Dodd-Frank
Overview of Litigation Developments Relating to Mortgage Services
3:30 - 4:30, Dean Kawamoto and Gretchen S. Obrist