$305.00 – $705.00
Date Recorded: June 4, 2021
Presenter: Anetria Cohen
A two-hour webinar focusing on the content of the Loan Estimate and Closing Disclosure; including revisions to the rules.
Financial institutions depend heavily on software to create disclosures. Although we assume the software is doing it correctly, of course, this is not necessarily so. It is critically important for the person inputting the information to make sure he or she is inputting the information correctly (“garbage in, garbage out”). Also, it is common for parameters to be reset when there is a software update, which can also cause us to become out of compliance. Ultimately, people responsible for providing the Loan Estimate (LE) and Closing Disclosure (CD) must know enough about the rule’s instructions to know when “this doesn’t look right.”
Although the Consumer Financial Protection Bureau (CFPB) has published rules to clarify and revise these instructions, institutions continue to grapple with the complexity of the rule.
It is important for institutions to understand what should be disclosed in these forms, and how the CFPB’s recent clarifications are and what changes institutions to expect from their software providers.
This program is suitable for all personnel involved in consumer mortgage lending, including loan officers, loan processors, and mortgage brokers. Compliance officers and auditors responsible for ensuring the financial institution is fulfilling its regulatory responsibilities will also find the program valuable.
Program Level: Basic
Prerequisite/Advanced Preparation: Basic Knowledge of Lending Regulations
Field of Study: Specialized Knowledge
Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.
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