Appraisal Rules and Standards, RESPA Requirements, and Banking Servicemembers Seminar OnDemand with Live Streaming

This full-day streaming session will provide an in-depth look at all things Reg. Z. We'll review closed- and open-end credit, the intricate mortgage and credit card rules, and so much more.

Live Stream
Recorded Thursday,
February 4th, 2021
Presented by Carl Pry
7h total length
7 CAMS Credits
$1,049.00 or 4 Tokens

Includes: Access the recording for 12 months.

  • Auditing
  • Compliance
  • Lending
  • Risk Management
  • Risk Management/Legal
  • TRID
  • Bank Legal Counsel
  • Community Reinvestment Act Officer
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Credit Analyst
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • Senior Management
  • Small Business Lender
  • Trainer

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Covered Topics

Banking Servicemembers

  • Servicemember Civil Relief Act (SCRA) – important protections for active duty servicemembers
  • Military Lending Act (MLA) rules - what loans to this apply to?
  • Verifying status under the MLA and SCRA
  • What do we have to do when someone is covered?
  • Caps and rate restrictions under the rules
  • Disclosures
  • Principal SCRA protections, including the interest rate reduction provision
  • What does active duty mean? How do you know for sure who is covered? Plus, who is NOT covered?
  • Dealing with the DMDC website to confirm status
  • Permanent Change of Station (PCS) guidance
  • When does coverage end? Does it?
  • Foreclosure and default judgment protections
  • HUD Form 92070 - what it is and when to provide it
  • Protection against eviction
  • Training recommendations
  • CFPB issues, including complaint and other reports focusing on servicemembers
  • Steps to take now

Appraisal Rules and Standards

  • What is an "appraisal"? What is an "evaluation"? When must either be used?
  • Rules and changes around exemptions, threshold amounts, and appraisals in rural areas
  • CFPB mortgage regulations under Reg Z - additional requirements for certain loan types
  • Regulations and Interagency Guidelines - requirements for lenders and brokers impacting both appraisals and evaluations
  • Readdressed and Transferred appraisals – what are these and when can we use them?
  • Clarified independence requirements and their importance
  • The many forms of appraisals and evaluations - what can you use and when? AVMs and BPOs aren't what they used to be
  • Can you accept a previous appraisal? Dealing with "readdressed" and "transferred" appraisals
  • USPAP rules and standards and their interaction with the appraisal rules - how do appraiser rules influence what lenders must do?
  • How to achieve appraiser independence - you've got to prove it
  • Anti-coercion and undue influence provisions - what can you NOT do (or say)?
  • Investor requirements
  • COVID-19 flexibility provisions
  • Necessary elements of an Appraisal Management Program

RESPA Requirements

  • RESPA's coverage rules – when do we have to worry about these rules?
  • Disclosures – even though the GFE and HUD-1 are history, there are still disclosures to provide
  • Servicing transfers – disclosures and process
  • Section 8 – Prohibition Against Unearned Fees and Kickbacks – renewed emphasis and scrutiny on arrangements
  • Escrow accounting and disclosure rules – getting it right, plus interplay with the LE and CD
  • Servicing rules, including handling inquiries and disputes
  • Default management – early intervention, points of contact, and handling accommodations
  • Loss mitigation steps, processes, and applications
  • Foreclosure rules
  • Enhancement of these rules to accommodate bankruptcy and other situations

Training Day Agenda (Subject to change)

9:00 am - 10:30 am CT (Followed by a 15 minute break and Q&A)

10:45 am - 12:00 pm CT (Followed by a 60 minute lunch break and Q&A)

1:00 pm - 2:30 pm CT (Followed by a 15 minute break and Q&A) 

2:45 pm - 4:00 pm CT (Followed by Q&A and session wrap up)

Attend the Appraisal Rules and Standards, RESPA Requirements, and Banking Servicemembers Seminar from the convenience of your own office or home via Live Streaming Video as it happens on Thursday, February 4th (9:00 am – 4:00 pm Central Time), or at your own convenience with 6 months of OnDemand playback.

Banking Servicemembers: Rules, Regulations, and Issues to Be Aware Of

One of a financial institution's greatest reputation risks is mistreatment of servicemembers. Issues involving servicemember are among the most critically important to regulators, so it's essential to understand the requirements and get them right. Financial Institutions have been taking great care not to treat servicemembers and their family members less favorably, due to these compliance and reputation risks problems in this area present. But what exactly are the rules?

The Servicemembers Civil Relief Act (SCRA) is the most well-known, of course. But there are other considerations, such as fair lending and even UDAAP. And the Military Lending Act (MLA) regulations cover different loans than does the SCRA. What we've seen over the last few years is lenders that believe they don't have issues to deal with for military customers that are unfortunately taken by surprise. Does your institution know the rules, and what to do and not do? The SCRA and MLA aren't the only issues to contend with either, as the CFPB has been particularly active when it comes to servicemember issues and concerns.

This live streaming session is designed to address all these issues, so you can be prepared. Know what it means to reduce the interest rate on active duty borrowers to 6%, as well as various other protections against foreclosure and other areas. Know how to determine whether you have a "covered borrower" under the MLA and SCRA, as the standards are different. We'll also talk about some of the more-recent enforcement actions taken against other institutions, to learn from others' mistakes.

Appraisal Rules and Standards: Compliance with Changing Standards

The past few years have seen significant emphasis on real estate appraisals and evaluation rules and regulations. With attention on credit standards increasing in general, it's more important than ever to be aware of the rules. Revised Interagency Guidelines and requirements for consumer real estate loans under Reg Z have been in place for years, and we've seen additional requirements finalized recently. Just in the last few years we've seen significant proposed and final regulations changing some thresholds and providing some additional exceptions from the requirement. In some cases (called "flipping transactions"), lenders even have to obtain two appraisals on the same property for one loan. And of course COVID-19 has proved challenging, and in response some leeway has been provided for appraisals.

Because breakdowns in appraisal practices were partly blamed for the mortgage crisis, regulators raised their expectations; lenders' appraisal and evaluation programs must include more elements than ever before. Some themes now emphasized by the agencies are independence of the appraiser, and evaluator, reviews, and qualifications. There are also limitations on using AVMs (automated valuation models), BPOs (broker price opinions), and similar evaluations such as tax valuations that must be accounted for.

Do you know the requirements? We'll provide in-depth details of the appraisal and valuation process, from both the lender and appraiser side of the game, to provide a thorough understanding of what is required and what you need.

RESPA Requirements: Compliance in Today’s Mortgage Environment

Contrary to popular belief (and some wishful thinking), RESPA hasn't gone away. Sure, TRID gutted most of RESPA's disclosure requirements, but the rule itself didn't disappear. In fact, there are many provisions that have been added to RESPA since the mortgage crisis, most notably servicing requirements for distressed borrowers. And in this time of pandemic, there are unfortunately more distressed borrowers than we wish there would be. But that makes compliance with the requirements all that more important.

This streaming session will address all of RESPA's requirements, both from an origination as well as servicing standpoint. The escrow rules are still in place, and the regulatory agencies have a renewed focus on Section 8 issues. Make sure you understand what these requirements are and are able to include them in your mortgage lending compliance processes.

This is part one of a two part series. Find complete series information Here: 2 Day Truth in Lending, Appraisal, RESPA, and MLA/SCRA Seminar OnDemand with Live Streaming

The "Appraisal Rules and Standards, RESPA Requirements, and Banking Servicemembers Seminar OnDemand with Live Streaming" has been approved for 7 CAMS credits. Credits are redeemable for Live attendance only. Users must connect to the streaming individually and enter their name and email for reporting purposes. Accreditation is valid for one year from the date of the event. To receive a certificate, email Streaming@OnCourseLearning.com.

The "Appraisal Rules and Standards, RESPA Requirements, and Banking Servicemembers Seminar OnDemand with Live Streaming" has been approved for 6.75 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. To receive a certificate, email Streaming@OnCourseLearning.com. Certification holders must report these credits at https://aba.csod.com.

Who should attend

Loan officers, lenders, compliance officers, auditors, underwriters, loan support staff, appraisers, closing agents, management, and many others will benefit from this event!

Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. 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 is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Credit Information

Appraisal Rules and Standards, RESPA Requirements, and Banking Servicemembers Seminar OnDemand with Live Streaming has been approved for 7 CAMS credits. Credits are redeemable for Live attendance only. Credit is for Live attendance only. Accreditation is valid for one year from the date of the event. For questions on certificates, please email support@oncourselearning.com.