Taking the Steps to Mortgage Compliance Regulations

This course is designed to provide a basic overview of federal mortgage regulations that apply over the life of a mortgage loan beginning at the point of origination and touching on each stage of the mortgage loan process through servicing. The target audience would include loan originator, processor, underwriter, entry level quality control and compliance personnel, including those new to mortgage lending and servicing or those re-entering mortgage lending and servicing after an absence from the industry.

This course is designed to provide a basic overview of federal mortgage regulations that apply over the life of a mortgage loan beginning at the point of origination and touching on each stage of the mortgage loan process through servicing.

By the end of this course participants will be able identify which regulation pertains to each stage throughout the lending and servicing processes.

Classes consist of five, two-hour classes with instructors delivered through the WebEx Training Center platform.

What will I learn?

Upon completion of the course, students will be able to:

  • Identify the various federal regulations that apply to mortgage loans
  • Identify specific sections of the federal regulations and their applicability to specific functions during the life of the loan
  • Identify the potential impact of proposed new laws and regulations
  • Identify the various federal agencies that oversee mortgage lending and servicing

Agenda

Session One

  • Regulations that apply to all Stages of the Mortgage Loan
    • Equal Credit Opportunity Act
    • Fair and Accurate Credit Transactions Act
    • Gramm-Leach-Bliley Act
    • Right to Financial Privacy Act
  • Regulations that apply to the Loan Application Process
    • Equal Credit Opportunity Act
    • Fair and Accurate Credit Transactions Act
    • Fair Credit Reporting Act
    • Fair Housing Act
    • Home Mortgage Disclosure Act

Objectives

  • Identify the specific federal regulations that apply to all phases of the mortgage origination and servicing processes
  • Identify the specific federal regulations that apply to the mortgage loan application process
  • Identify the steps needed to ensure compliance with the identified federal regulations

Session Two

  • Regulations that apply to the Loan Application Process (continued)
    • Home Mortgage Disclosure Act (continued)
    • Gramm-Leach-Bliley Act
    • Real Estate Settlement Procedures Act
    • Right to Financial Privacy Act
    • Truth-in-Lending Act
    • USA PATRIOT Act
    • E-Sign Act
  • Regulations that apply to Processing and Closing
    • Appraisals
    • Bank Secrecy Act/Anti-Money Laundering
    • Equal Credit Opportunity Act

Objectives

  • Identify the specific federal regulations that apply to the mortgage loan application process
  • Identify and explain the specific sections of the federal regulations that apply to processing and closing

Session Three

  • Regulations that apply to Processing and Closing (continued)
    • Fair and Accurate Credit Transactions Act (FACT Act)
    • Fair Credit Reporting Act (FCRA)
    • Fair Housing Act (FHAct)
    • Home Mortgage Disclosure Act (HMDA)
    • Home Ownership and Equity Protection Act (HOEPA)
    • Homeowners Protection Act (HPA)
    • National Flood Insurance Act (NFIA)
    • Real Estate Settlement Procedures Act (RESPA)
    • Truth-In-Lending Act (TILA)

Objectives

  • Identify specific sections of the federal regulations that apply to the processing and closing of mortgage loans
  • Identify required disclosures through the processing and closing of mortgage loans

Session Four

  • Federal Regulations and Processing and Closing (continued)
    • TILA/RESPA Integrated Disclosures (TRID or Know Before You Owe)
    • Unfair, Deceptive or Abusive Acts or Practices (UDAAP)
    • USA PATRIOT Act
    • Gramm-Leach-Bliley Act
  • Federal Regulations and Servicing
    • Truth-In-Lending Act and Appraisals
    • Bank Secrecy Act/Anti-Money Laundering (BSA/AML)
    • Electronic Funds Transfer Act (EFTA)
    • Procedures for Resolving Errors
    • Equal Credit Opportunity Act (ECOA)
    • Fair Credit Reporting Act (FCRA)
    • Fair and Accurate Credit Transactions Act (FACT Act)
    • Fair Debt Collection Practices Act (FDCPA)
    • Fair Housing Act (FHAct)

Objectives

  • Identify specific sections of the federal regulations that apply to the processing and closing of mortgage loans
  • Identify required disclosures through the processing and closing of mortgage loans
  • Identify specific sections of the federal regulations that apply to the servicing processes

Session Five

  • Federal Regulations and Servicing
    • Gramm-Leach-Bliley Act
    • Homeowners Protection Act (HPA)
    • National Flood Insurance Act (NFIA)
    • Real Estate Settlement Procedures Act (RESPA)
    • Servicemembers Civil Relief Act (SCRA)
    • Truth-In-Lending Act (TILA)
    • Unfair, Deceptive or Abusive Acts or Practices (UDAAP)
    • USA PATRIOT Act
  • Resources for CFPB

Objectives

  • Identify specific sections of the federal regulations that apply to the servicing processes

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