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California Professional Development
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Recorded Tuesday, October 28th, 2008
Residential real estate lending has always been unique: virtually all the compliance requirements in the lending arena apply. They are complex and always changing. Due to difficult recent market and political conditions, there have been new developments in this area, as well, with many more sure to come. In this webinar, we explore the range of rules and regulations that cover residential lending, with specific emphasis placed on new and changing rules. Learn what rules apply, when they apply, definitions of complex terms, as well as the penalties for noncompliance.
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- Regulation Z – Truth in Lending, including new requirements for "higher-cost mortgages"
- Real Estate Settlement Procedures Act (RESPA) – common errors and possible changes
- Regulation B – application and adverse action rules
- Fair lending: subprime, nontraditional, and predatory mortgages – what to watch for
- HMDA reporting requirements
- Flood Insurance – renewed emphasis and requirements
- Appraisal rules – standards of independence, disclosures, and requirements, including the NY Attorney General's agreement with Fannie and Freddie
- Fair Credit Reporting Act, including FACT Act amendments
- Privacy and USA Patriot Act Customer Information Program requirements
- And more
Plus frequent question and answer sessions throughout this presentation.
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This interactive session will give a basic understanding of each of these rules and is imperative for anyone performing duties in residential real estate lending areas of the financial institution. This includes loan officers, personal bankers, supervisors, auditors, closing agents, compliance officers, trainers and others working in these types of positions.
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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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