Truth in Lending
Closed-end credit * Final regulations for the new early TIL disclosure * New advertising rules * Higher-priced mortgage loan; Servicing rules (prompt posting of payments, etc.) * Section 32 mortgages; Proposed regulations for mortgage loans * A new one-page list disclosure provided at
application * Revised TIL disclosure within three days after application * New adjustable-rate mortgage disclosures * Revised APR calculation that will include many fees that are currently excluded from the APR * A new graph in the “Fed Box” that shows how the APR compares to the average rate offered to borrowers with excellent credit * A new final TILA disclosure that consumers must receive at least three days before the loan closing * A new requirement to notify consumers 60 days in advance of a change in their monthly payment (currently notice may be given 25 days in advance), for adjustable-rate mortgages * For loans where consumers have payment options that allow their loan balance to increase, consumers would have to receive monthly statements explaining this feature
Proposed revisions to:
Revised Real Estate Settlement Procedures Act rules
A revised special information booklet * A revised Good Faith Estimate requirements including the new three-page Good Faith Estimate form and the new instructions for preparing the form * New rules to determine when “changed circumstances” exist * New “cure” provisions * Revised HUD-1 and HUD-1A disclosures * New option to calculation closing costs using an average cost method * New 0% and 10% tolerances that restrict the amount by which certain items that appear on the HUD-1/1A can exceed the items on the GFE * New prohibition on charging a fee for an appraisal, inspection, or similar charge prior to providing the GFE; and * New Servicing Disclosure
About Your Presenter – Jack Holzknecht
Jack Holzknecht is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-nine years. He has the ability to identify the key compliance issues from each regulation. Jack’s career began in 1976 as a federal bank examiner.
He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.
Who Should Attend
This program is designed for loan officers, loan processors, auditors, compliance officers and others who must comply with the new rules.
A webcast is a live streaming video that can be accessed from your computer. This virtual delivery method allows multiple attendees to participate from one location for one fee. An On-Demand seminar is an event that has been recorded into an online streaming video that can be accessed at any time & at your own convenience. These types of seminars are accessible 24/7, and can be viewed as many times as you like within a 6- month time period.
Jack Holzknecht, Pegasus Educational Services, LLC