HELOCS: Start To Finish Three-Hour Remote Session – ON-DEMAND WEBINARS

Recorded: May 5, 2022

Presented by: Ms. Anetria Cohen, Vice President and Senior Consultant, FORVIS

A three-hour remote seminar covering lending compliance as it relates to Home Equity Lines of Credit (HELOCs).

Institutions often focus their compliance efforts on mortgage loans, which is understandable given their complexity and the sheer number of changes that affected them these past few years. Though, open-end consumer loans secured by a dwelling (home equity lines of credit or HELOCs) also can be an integral part of financial institutions’ loan portfolios. Although they may be seen as “simpler”, HELOCs present their own unique questions and challenges and it is important that financial institutions review their obligations regarding HELOCs in addition to those regarding closed-end transactions.

This three-hour remote seminar will provide an in-depth review of lending compliance as it relates to HELOCs – the differences between HELOCs and closed-end credit, various disclosures and other requirements specific to HELOCs, and how HELOCs are treated under general compliance rules.

HERE IS WHAT YOU WILL LEARN:

• What HELOCs are and their limitations;
• Origination requirements under TILA/Regulation Z
  • At Application disclosures
  • Account-Opening disclosures
  • Right of rescission
• Origination requirements under other rules – (e.g., RESPA and High Cost; ECOA; UDAP/UDAAP; FCRA)
• Servicing Requirements
  • Periodic Servicing Statement options
  • Billing error resolution
• A review of the HELOC advertising rules
• Interagency Statement on HELOCs and End-of-Draw Periods