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Course Details

Handling Loan Applications - What Can Go Wrong?

Webinar: ID# 1000824
Date: Recorded
Handling Loan Applications - What Can Go Wrong?
About This Course:
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 an application and an inquiry?

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 REQUIRES that loan originator have "periodic training" to ensure "knowledge of Federal legal requirements that apply to the individual loan originator's loan origination activities." This training program satisfies a significant portion of this training requirement.What You'll Learn:
  • Learn what specific information will help you to handle applications correctly
  • What are the top five mistakes made in application processing?
  • Overview of application and timing of disclosures for consumer, mortgage, and commercial loan applications
  • When does an application have to be in writing? Does it have to be signed? What are the signature rules for applications?
  • What are the rules for appraisal copies? Reg B did NOT exempt commercial purpose loans secured by a 1st lien on a 1-4 dwelling
  • 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?
  • Recap of the collection of "demographic information" for HMDA reportable applications under the 2018 rules
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Handling Loan Applications - What Can Go Wrong?
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