Webinar: CFPB Examination Procedures for Mortgage Loan Originators: Effective January 10, 2014

Start: 3:00 pm
End: 4:30 pm
Event Days: 09/10/2013 - 09/10/2013

In January 2013, the CFPB issued the long-awaited final rules regarding mortgage loan originator compensation and qualification requirements under the Truth in Lending Act (TILA), as amended by the Dodd-Frank Act. The new compensation rules potentially have a major impact on mortgage loan officers/originators and financial institutions themselves.

These changes will affect policy and procedures and will include self-testing of the new compensation guidelines. Examiner guidance has been issued, and financial institutions will be scrutinized regarding compliance with the new rules. This is a must-attend webinar in order to prepare for the Jan. 10, 2014, deadline! You will be provided the tools you need to be compliant by this fast-approaching deadline. Issues will be discussed step by step, example by example.

About This Session:     

This webinar will cover the following topics:

  • Which loans apply?
  • Who qualifies as a mortgage loan originator under the new compensation rules?
  • Compensation issues and examples (and what is not included)
  • How to determine if compensation is based on a transaction term
  • Issues when compensation is received directly from a consumer
  • Commissions for performing activities that are not loan-origination activities
  • "SAFE" compensation methods
  • TAKE-AWAY TOOLKIT with the manual in Word format, a new requirements fact sheet, audit procedures for self-testing, an employee training log and a staff quiz/answer key

Who Should Participate:

Loan supervisors, compliance officers and auditors

About the Presenter:

Ann Brode, Brode Consulting Services, Inc.

With nearly 40 years of experience, Ann Brode serves as a consultant to regional and community financial institutions in a wide range of areas, including strategic planning, lending, deposits, marketing, training, compliance and management. She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin, as well as many other state banking schools. Brode is the author of The Bank Deposit Documentation Manual for Front-Line Personnel and is well-represented in numerous industry publications.