Flood Insurance – Continuing Issues and Headaches – ON-DEMAND WEBINARS


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SKU: SWFIN Category:

Date Recorded: December 3, 2021

Presenter: Anetria Cohen, Vice President and Senior Consultant, FORVIS

Mortgage loans are subject to numerous Federal lending requirements, especially during the application process. In addition to all of the various disclosures, the institution must check to see if the loan is a higher-priced mortgage loan (under 12 CFR 1026.35, a “Section 35” loan) and a high-cost mortgage loan (under 12 CFR 1026.32, a “Section 32” loan). If a transaction meets either or both of these definitions, then the institution will have to comply with additional requirements.

This webinar will discuss in detail the definitions, exemptions, and requirements of these two rules. We will discuss the thresholds (e.g., APR/APOR, points and fees) and common mistakes that people make in determining whether the thresholds are met.

We will also review the recent Consumer Financial Protection Bureau’s proposal to revise the HPML exception for certain institutions – this will expand an exemption and make it possible for a number of institutions to be excluded from the escrow requirement under those provisions.

In this webinar, you will learn the following, among other topics:

Higher-Priced Mortgage Loan:

  • Coverage/threshold
  • Escrow requirement / exemptions
    • Proposed exemption for institutions
  • Appraisal/additional appraisal requirement / exemptions

High Cost Mortgage Loan:

  • Coverage/thresholds
  • Detailed explanation of points and fees
  • Limitations and prohibitions

An online presentation and any additional supplemental materials, as applicable, will serve as the basis of the presentation. You will have the option to stream the audio through your computer or dial-in using a telephone number/PIN. Ample time will be dedicated to taking questions from attendees. Be sure to submit your questions during the webinar, as we are unable to offer telephone or email support after the presentation.

Who Should Listen

This informative webinar is designed for compliance officers, compliance staff, loan officers, and auditors who must understand this important issue. Also, those with compliance management or training responsibilities will also benefit from this valuable webinar.

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of Lending Regulations

Field of Study: Specialized Knowledge

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Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.

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