October 26, 2022
Member Fee (Live or Recording): $165 per connection
Non-Member Fee (Live or Recording): $265 per connection
The Consumer Financial Protection Bureau (CFPB) published a final rule to implement the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosures (TRID) on November 20, 2013. The final rule was effective on October 3, 2015. The TRID rules and guidance from the CFPB continue to evolve. After much industry confusion and concern regarding the new rules, the CFPB released a proposal to update the TRID regulation in July 2016. The final TRID Amendment was released on July 7, 2017, with a mandatory compliance date of October 1, 2018. The program explains selected issues from the final amendments and also explains changes made by the Economic Growth, Regulatory Relief and Consumer Protection Act, which was signed into law on May 24, 2018. There has been additional clarification to TRID requirements as a result of the COVID-19 Pandemic.
This two-hour program reviews selected TRID amendment issues and explains how the amendments impact the existing rule, including:
- The general rules contained in §1026.19;
- The content rules and the detailed instructions for completing the loan estimate from §1026.37; and
- The content rules and the detailed instructions for completing the closing disclosure from §1026.38.
Daily TRID management continues to challenge many banks and lenders; this webinar provides a thorough review of the most common issues resulting from the amendments. Whether you are new to TRID or have been involved since its inception, this review of the amendments provides the information you need in order to implement the changes.
Participants receive a detailed manual that serves as a handbook long after the program is completed.
Upon completion of the program participants understand:
- The expanded scope of TRID coverage, including FAQs regarding the definition of “application”
- The rules for the timing and content of revised disclosures, including clarification of the Juneteenth federal holiday
- Guidance on sharing disclosures with various parties involved in the mortgage origination process
- Proper disclosure of construction loans
- Accurately disclosing the Calculating Cash to Close table
- Tolerance requirements for charges paid to all parties
- Clarification on when and how to disclose a rate lock
- Proper disclosure of lender and seller credits
- Revisions to disclosures of escrow disclosure requirements
- Changes made by the Economic Growth, Regulatory Relief and Consumer Protection Act
- Pandemic clarifications
- So much more
This program is designed for managers of all departments that originate mortgage loans, compliance officers, loan officers, auditors and others with responsibilities for preparing, delivering or auditing the TRID disclosures.
Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC and has more than a two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC and consumer compliance. During her career she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager and a Certified Anti-Money Laundering Specialist.
Jack Holzknecht is the Founder of and Senior Consultant at Compliance Resource, LLC. He has been delivering the word on lending compliance for 46 years. In 41 years as a trainer over 155,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.