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Title:

CFPB Mortgage Disclosure Rules: New Requirements and Impacts on the Mortgage Industry

SKU:WC-1014832
Date / Time: Recorded
Format: Webinar
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Description:

CFPB Mortgage Disclosure Rules: New Requirements and Impacts on the Mortgage Industry

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) directed the Consumer Financial Protection Bureau (CFPB) to combine the mortgage loan disclosures under the Truth in Lending Act and Real Estate Settlement Procedures Act into integrated disclosures.

After many rounds of testing, the CFPB developed an integrated application disclosure called the "Loan Estimate" and an integrated closing disclosure called, appropriately, the "Closing Disclosure". The CFPB also developed an accompanying rule for the new forms. The new forms and rule are effective August 2015.

This webinar will examine the basic aspects of the rule and the new integrated disclosure forms, and include a tour of the forms. The webinar will highlight changes that will require decisions regarding how companies conduct business, and that will place burdens on staff and systems.

This webinar is important for all parties who participate in the residential mortgage loan industry or assist industry participants, including mortgage lenders and brokers, real estate brokers and agents, title companies, escrow and settlement companies, technology companies, document providers and attorneys.

Agenda

RESPA/TILA Integrated Disclosure Rule Basics

  • Scope
  • Effective Date
  • The New Forms
  • Transition
  • Dual Functionality
  • Liability
Pre-Application Limits
  • Written Cost Estimate Requirements
  • Upfront Fee Limits
  • Upfront Verification Limits
Revised Definition of Application
  • Implications
Loan Estimate Rules
  • Who Provides; Timing and Delivery
  • Written List of Providers
  • Limits on Increase in Charges
  • Ability to Revise Loan Estimate
  • Fee Disclosure Approach
Tour of Loan Estimate Form
Closing Disclosure Rules
  • Who Provides; Timing and Delivery
  • Ability to Revise Closing Disclosure
  • Fee Disclosure Approach
  • Post Consummation Corrections
Tour of Closing Disclosure Form
About The Presenter

Richard J. Andreano
  • Practice leader, Mortgage Banking Group, Ballard Spahr LLP
  • Fellow, American College of Consumer Financial Services Lawyers
  • Chambers USA: America's Leading Lawyers for Business, banking and finance: financial services regulation: consumer finance (compliance), national ranking, 2014
  • Wrote, MBA Compliance Essentials Loan Originator Compensation Resource Guide™ and MBA Compliance Essentials Loan Originator Compensation Resource Guide II™, published by the Mortgage Bankers Association
  • Co-wrote, MBA Compliance Essentials RESPA/TILA Integrated Disclosure Rule, to be published by the Mortgage Bankers Association
  • Editor-in-chief, Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute; wrote chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-wrote the Equal Credit Opportunity Act and Truth in Lending Act chapters
  • Counsel clients on residential mortgage regulatory matters, including ability to repay, RESPA/TILA integrated disclosure rule, CFPB supervision and examination, UDAAP and other Dodd-Frank matters
  • Frequent speaker and writer on mortgage industry issues


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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