Compliance 101: Rules for Consumer & Mortgage Lenders

This session will cover key lending consumer compliance regulations (highlights of the Equal Credit Opportunity Act, HMDA, Flood, RESPA, Truth in Lending, and Fair Credit Reporting). It will also include a Bank Secrecy Act overview outlining “Five Reasons Lenders Should Have BSA Training”. We’ll review “what’s old, what’s new, and what’s to come”.

Covered Topics:

  • BSA training for CIP in the lending area, due diligence for detecting potential money laundering activity and Suspicious Activity Report (SAR) basics.
  • Fair Lending “best practices” and recent enforcement actions
  • Reg B requirements for the life of the loan including tips for taking an application.
  • Overview of HMDA data collection, common problems and best practices; preview of “NEW RULES” that become effective on January 1, 2018. The existing HMDA rules and coverage remain unchanged for the data collected in 2017.
  • Overview of Flood requirements including the four trip wire events and changes for “detached structures” on residential property.
  • “Integrated Disclosure” review for the coverage, timing, tolerances, and common disclosure problems.
  • Special concerns about credit report accuracy, permissible purpose, and handling disputed reporting under the Fair Credit Reporting Act.
  • Highlights of the most common errors in consumer real estate secured loans; tips to prevent violations.

    • Matrix of 28 types of real estate secured loans (consumer & commercial) showing the requirements for applications taken on or after 10/3/15 when the Integrated Disclosure rules became effective.
    • “Matrix of suggested training topics by job function for consumer, mortgage, commercial lenders and for loan operations staff“
    • Cheat Sheets” to help simplify compliance with several lending regulations.

Who Should Attend?

This informative session is designed for compliance officers, auditors, loan officers, loan assistants, and loan administration staff. This seminar is designed for both those new to lending regulations or more experienced personnel looking for a review of existing requirements. While there is an emphasis on the regulations that relate to real-estate secured lending, this session will be helpful to any employee who assists members with various types of loan requests.