Program Description:
This webinar deals with what is probably the most-difficult regulation in all of lending compliance – the Fed’s Regulation Z, Truth in Lending. It is always at or near the top of the list of the most frequently-violated regulations. This session is an in-depth discussion of Regulation Z, where we will examine the details, including focusing on often-troubling parts of the rule.
This two-hour course covers:
- What loans are covered by Reg. Z? A simple step-by-step guide
- Business purpose vs. consumer purpose (and rental property loans)
- Finance charge basics - what is it and what does it mean?
- Prepaid finance charges and the amount financed
- Open-end vs. closed-end credit - different rules for different types of loans
- Home equity lines of credit HELOCs - special rules
- The infamous "FedBox" and the Schumer Box
- Timing of disclosures ("Early" TILs)
- Refinancing vs. modification
- Advertising rules - what to say and what to avoid
- Right of rescission - what is it and who gets it?
- Section 32 loans - what they are and what to do if you have them
- Problem loans - tolerances and fixes
Plus frequent question and answer sessions throughout this presentation.
Who Should Attend:
This informative program is essential for everyone involved in consumer lending, whether or not real estate is involved - compliance officers, auditors, underwriting personnel, CSRs with documentation duties, bank attorneys, and any personnel working with Reg. Z.
Presenter:
Carl Pry, J.D., Director of Fair Lending Compliance for KeyBank in Cleveland, Ohio. Mr. Pry provides a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
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