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Alabama Bankers Association
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Recorded Tuesday, April 22nd, 2008
Fair lending is a hot topic right now – from the subprime “meltdown” to nontraditional mortgages and predatory lending, there is much to consider. How is your fair lending program? Have you accounted for new risks examiners are looking for? This program will help you to understand the extent of Regulation B, the Fair Housing Act (FHA), and new guidance the regulatory agencies have introduced recently. We’ll also discuss trends in fair lending and the direction Congress and other agencies are likely to go in the new future.
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- Prohibited bases under the rules (what you can do, as well)
- Evaluating applications and underwriting – what you can and cannot consider
- Government monitoring information – when to get it and how to handle it
- The Reg. Z “Higher-Priced Mortgage” proposal
- Fair lending litigation trends and lessons
- Suitability rules – how can we demonstrate this?
- Nontraditional mortgage and proposed ARM illustrations – sign of things to come?
- Developing an effective and comprehensive fair lending program
- Consequences for violating the rules - not just fines
- And more
Plus frequent question and answer sessions throughout this presentation.
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Anyone in the institution having virtually any responsibility in the lending process has fair lending responsibilities, from senior management, loan officers, underwriters, and closing agents, to compliance officers, auditors, and attorneys, and would benefit from this valuable information.
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Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who works in Lending Compliance for a large financial institution in Ohio. Prior to this, Carl was a manager in the Finance & Performance Management service line for Accenture. Through his working career, as well as through his experience as a banking attorney and officer, he has provided 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, and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. 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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