Banking on Compliance Part III

Be RESPA & Reg Z Ready

 

 

August 26, 2010

Marriott Legends Hotel at Capital Hill

2500 Legends Circle

Prattville, AL  36066

(334) 290-1235

 

Click here for directions

 

Registration

The $395/member $545/nonmember -  registration fee includes instruction, materials, continental breakfast and refreshments.

 

Click here to register

(If you do not have a login and password for our registration section please call our office

at 1-800-239-7338)

 

The following link contains detailed instructions for MyCBAA's members only registration process.

 

MyCBAA Online Registration Instructions

 

9 a.m. - 3 p.m.

Registration begins at 8:30 a.m.

 

Speaker

 

J. Patrick Liddy is a Senior Consultant at PBS. Prior to joining the firm he practiced law for ten years in Ohio and Arizona where he is currently licensed. Mr. Liddy then began his banking career as General Counsel and Compliance Officer for a $43 million community bank. The bank was purchased by a major bank holding company where he served as Director of Compliance through a tenfold expansion of assets. The holding company included financial institutions in several states primarily regulated by the Federal Reserve, the OCC and the OTS. Mr. Liddy has performed in-house training on a variety of compliance and legal topics. He has also served as Senior Risk Officer and Risk Division Counsel. Mr. Liddy was appointed to and served a three-year term as a member of the Federal Reserve Board Consumer Advisory Council in Washington, D.C. He is a graduate of the ABA National Graduate School of Compliance Management. Mr. Liddy holds a Bachelor of Arts degree from the University of Notre Dame and a Juris Doctor degree from The Ohio State University College of Law.

 

Seminar Overview

 

This full-day seminar explains all Real Estate Settlement Procedures Act (RESPA) and Truth-in-Lending Act/Regulation Z closed-end credit compliance responsibilities, with particular emphasis on the most recent revisions and how these two complex regulations are related.

 

The Real Estate Settlement Procedures Act (RESPA), implemented by HUD’s Regulation X, has traditionally presented some of the most difficult compliance challenges. Now, after a major overhaul of its approach designed to “protect consumers from unnecessarily high settlement costs,” nearly every aspect of compliance with RESPA disclosure requirements has changed—from the “written list of providers” to disclosure of yield spread premiums and other fees charged by mortgage brokers.

 

At the same time, institutions have had to revise procedures and policies to implement new requirements under Regulation Z. Expansion of the requirements for “early” TIL disclosures required by the Mortgage Disclosure Improvement Act (MDIA), new repayment verification rules, and a new category of Higher Priced Mortgage Loans with enhanced consumer protections, have left many mortgage lenders with their heads spinning.

 

Despite several years in the making, the new RESPA rules as issued leave numerous questions unanswered and raise many new compliance issues. HUD continues to issue additional guidance on an irregular, unscheduled basis, in the form of Frequently Asked Questions. In addition, the fact that RESPA is implemented by the Department of Housing and Urban Development, while its close companion, Regulation Z, is implemented by the Federal Reserve Board, has contributed to the confusion of how the compliance responsibilities of the two mesh.

 

This seminar is designed to assist you in resolving the compliance riddles you face in this new compliance landscape. Our presenters stay up-to-date with the latest guidance issued in these areas, and bring their experience and knowledge of compliance techniques gained from interaction with mortgage lenders throughout the country to each individual attendee.

 

Seminar Topics:

 

While the seminar manual is a comprehensive source of RESPA and Regulation Z closed-end credit requirements, the seminar itself will focus on:

• Issues associated with the use of the new GFE, HUD-1 and HUD-1A forms, including those involving the written list of settlement service providers, what fees and services are subject to tolerances, working with or as a mortgage broker, when revised GFEs can be issued, and how to correct HUD-1/1A tolerance violations.
• How the MDIA early TIL disclosure requirements differ from the GFE requirements, and fee prohibitions associated with each.
• Which applications are covered by MDIA early TIL disclosure requirements, and how to calculate the MDIA-required waiting periods before closing and the tolerances for accurately estimating the APR.
• What is the Average Prime Offer Rate (APOR) and how it is used to determine whether a loan is a Higher Priced Mortgage Loan.
• What extra compliance steps are required in a Higher Priced Mortgage Loan.
• Identifying which loans will be subject to mandatory escrowing effective April 1, 2010, and complying with RESPA’s rules regarding escrow account establishment and administration.

 

Who Should Attend

 

The seminar is presented at the intermediate level and experience in lending and knowledge of related terms is recommended. However, the speaker uses practical, understandable language and examples. It is designed to meet the needs of lending personnel, compliance officers, and auditors.

 

The Manual

The manual is in full narrative format and mirrors the regulation, but in terms the layman can understand. It is an excellent resource for future reference.

 

More Information

Dress for the seminar is business casual.  To ensure your comfort, please bring a jacket or sweater.  If you need additional information please contact Debbie Pharr at 334-244-9456 or email dpharr@cbaaonline.com.  Location is subject to change.  We will notify you if a change is made after your registration. 

 

Cancellaton Policy

There will be a $50.00 fee for any cancellation.