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The New CFPB Mortgage Rules: Strategic Decisions That Must be Made Before Implemention

Webinar: ID# 1001094
Date: Recorded
About This Course:
Believe it or not, implementing all the new CFPB mortgage regulations is only the second step in the process. These rules will have a fundamental impact on the industry, creating new obstacles as well as opportunities for lenders. Before rushing to formulate task forces within your bank to figure out how you're going to get all these things into place before next January, take a step back. Consider what these rules will mean for your bank. What types of consumer mortgage loans will you continue to offer? What will the impacts on other areas of the bank be? Will there be any unintended consequences of those decisions?

Better yet, get your management involved. These are not merely compliance issues; they will have major financial implications, as well as credit policy, risk management, fair lending, and CRA ramifications. In order to figure out what your bank wants to do about these issues means you first must understand what those issues are. That's the focus of this webinar.

We'll discuss how the rules will fundamentally alter the business of mortgage lending both industry-wide, as well as in your bank. As a result, critical decisions must be made regarding how to approach the process.

Covered Topics

  • What types of mortgage loans will you choose to offer (or not)? 
  • Will your bank offer Section 32 loans? Or if you don't presently, how many loans will the changes to the rules eliminate?
  • How will you manage the points and fees limitation for QMs?
  • How will your relationships with third-party service providers, including affiliates, be affected?
  • How will your decisions be viewed through a UDAAP lens by the regulators?
  • Will your decisions alter your bank's fair lending and CRA profiles?
  • How will you handle the new servicing requirements (even if you only service portfolio loans)?


These are but a few questions your bank must answer before putting the rules into place. We'll talk about the compliance requirements all right, but through the viewpoint of what they'll mean to your bank and its business.

It is important to understand these issues now, to be ready to inform management, and even brief your
Board, on what is changing and the effect of these changes. You'll need to coordinate with software vendors, settlement service providers, and auditors, among many other responsibilities.

Who Should Attend

This program is designed not only for the compliance officer, but also bank management, and others with responsibility for strategic decision-making, as well as those responsible for assuring compliance with laws and regulations governing consumer mortgage lending.

The Presenter

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country.

He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

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The New CFPB Mortgage Rules: Strategic Decisions That Must be Made Before Implemention
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