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Common Pitfalls Of ARM Disclosures

Webinar: ID# 1008149
Date: Recorded
About This Course:
Since December 29, 1987 banks have been required to develop and deliver Adjustable Rate Mortgage (ARM) program disclosures for each different ARM program offered. The disclosures must be updated at least annually.

While many financial institutions have offered ARM products for decades, others only recently migrated from balloon mortgages to ARM products. Whether new to the ARM game or an old veteran this review of common problems with ARM loans will help keep you in compliance.

This two-hour program explains how to avoid problems when developing, maintaining and auditing ARM disclosures. The program explains the rules, reviews typical problems that occur, and provides steps to assure ongoing compliance.

Participants receive a detailed manual that serves as a handbook long after the program is completed.

Learning Objectives:

Upon completion of this program participants understand common problems that plague ARM loans including:
  • Failure to identify a transaction as an ARM loan
  • Failure to deliver disclosures
    • Within the required timeframes
    • With the required content
  • Failure to periodically updating the disclosures
  • Failure to provide proper and timely rate adjustment disclosures
Who Should Attend?

The program is designed for all mortgage lenders, compliance officers, auditors and others with responsibilities for assuring compliance with applicable laws and regulations in the mortgage loan department.

About Your Speaker:

Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 42 years. In 37 years as a trainer over 130,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars.

Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.
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Common Pitfalls Of ARM Disclosures
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