Impact of the New Mortgage Rules on Your Loan Process


Presented by: Carl Pry

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As compliance professionals, we're trained in a very specific way: read the new rule (thousands of pages!), and then get to the process of implementing it throughout the affected areas of the bank. We change policies and procedures, and draft testing and control plans. But the new CFPB mortgage regulations are so sweeping, they'll involve everyone working in the loan process (and many who aren't, too). For the most part, it's only we as compliance officers that care whether the change is part of Reg. Z, X, B, or something else.

How are these new rules best explained to others in the bank who have only a small piece of the pie? Processors won't care about the servicing rules, and loss mitigation won't care about the appraisal rules, for instance. This webinar is designed to break down the new rules by process, or department, within a typical mortgage shop, so that the individual pieces of the new rules can be explained and implemented in a more logical fashion.

The rules aren't independent of each other; many impact more than one area of your bank. The challenge is to figure out what applies to whom, including not only the requirements, but also the exceptions, exemptions, thresholds, and consequences. We'll provide a method to the madness.

Examples of this mortgage loan end-to-end process:
  • Product Development: which loans to offer - QMs, QRMs, HPMLs, HOEPAs, flips, etc.? How to know what is what
  • Marketing and Sales: how the products you offer will be viewed from a UDAAP perspective, and traps to avoid
  • Application: new questions to ask to understand what the applicant wants
  • Processing: determining what type of loan you have, and what you must have to figure that out
  • Underwriting and Pricing: understanding how the myriad exceptions, exemptions, and thresholds play into the decisioning process (and also making sure you aren't steering)
  • Servicing: many new requirements here to understand and implement. You'll likely need more resources (what else is new?)
  • Loss Mitigation and Foreclosure: make sure the left hand knows what the right hand is doing.
  • How to handle delinquent borrowers
This session is designed for anyone in these categories above, as well as anyone who must understand how these major changes will impact operations. Knowing where to devote resources is a critical part of the planning process; this webinar will sort it all out and make it easier to gameplan.

About the Speaker: Carl Pry, a Senior Director of Treliant Risk Advisors, is a seasoned executive with banking law, corporate finance, and regulatory compliance experience in Fortune 500 institutions, regional banks and industry consulting firms. Carl advises clients on commercial compliance, fair lending, corporate treasury and risk management. Over the last 18 years, Carl has held senior leadership positions including Senior Vice President and Compliance Manager for the Compliance and Control Division at KeyBank, Manager of Finance and Performance Management Service Line at Accenture, and Vice President of Regulatory Services at Kirchman Corporation. With strong knowledge and experience as a banking attorney and officer, Carl is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. As a featured speaker for numerous banking, compliance, and state bar associations, he has led training sessions across the country. Carl has served as an instructor at FDIC examiner school and back-up instructor for NCUA examiner school. He has authored training programs covering consumer and commercial compliance, audit, quality control, tax, privacy and risk management. Carl is a columnist for ABA Bank Compliance and ABA Bank Marketing magazines. He has authored scores of articles on financial issues and developed testing and support materials for BAI's Anti-Money Laundering Professional certification and served as subject matter expert for web-based compliance and audit educational testing programs for banking training firms. He is the author of Internet Banking Manual, a comprehensive guide to business planning, risk analysis and maintaining a presence for financial institutions on the Internet. For LexisNexis, he also authored The New RESPA Rule: Navigating New Disclosures and The Evolution of Reg. Z: Increased Duties and Responsibilities for Lenders. Carl holds a JD and an MBA from the University of Toledo and a BSBA from Bowling Green State University. He is also a Certified Regulatory Compliance Manager and Certified Risk Professional.

This program was recorded in its entirety in March 2013. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_loanprocess0413
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Sunday 17 February, 2013.

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