New Integrated Disclosures - The Closing Disclosure


Presented by: Mary Beth Guard and Jack Holzknecht

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The Consumer Financial Protection Bureau (CFPB) published final rules to implement the new integrated disclosures on November 20, 2013. The rule completes the Dodd-Frank mandate to combine the disclosures required by the Truth-in-Lending (TILA) and Real Estate Settlement Procedure Acts (RESPA). The 1,888 page final rule is effective on August 1, 2015.

On December 10, 2013 we presented an Overview of the New Integrated Disclosures. Our May program detailed the requirements for the new Loan Estimate. This program includes the final piece of the puzzle - the Closing Disclosure.

Upon completion of this two-hour program, participants understand:
  • The coverage and exemption rules for the new requirements;
  • The new timing rules and other guidance related to the closing disclosure;
  • Changes before consummation that require or do not require a new waiting period;
  • Refunds;
  • The content of the new Closing Disclosure; and
  • The effective date for the new rules.
The amount of detail in the new Closing Disclosure exceeds anything in our prior experience with mortgage lending. Even though we have time to get all of the pieces in place, the time to start the process of mastering this material is now. The program provides an overview of the new form, in its many iterations, its component parts and a taste of the detail that results in "violation traps." This program provides a first look at the extensive new requirements for the closing disclosure.

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

The program is designed for managers, loan originators, loan officers, lending assistants, compliance officers, auditors and others with responsibilities for originating mortgage loans.

About the Speakers: Jack Holzknecht is a principal with Pegasus Educational Services, LLC. He has been delivering the word on lending compliance for 38 years. In Jack's 33 years as a trainer over 125,000 bankers (and many examiners) have participated in his live seminars and webinars. Jack's career began in 1976 as a federal bank examiner. He later headed the form, software and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by several state bankers associations. He developed and delivered compliance training for the FDIC for ten years. Jack is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a BOL Guru.

Mary Beth Guard currently serves as Executive Editor of, CEO of Glia Group, Inc. and Executive Editor of Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.

This program was recorded in its entirety in June 2014. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_closingdisc0614
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 31 March, 2014.

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