Recorded: June 29,2009
Length: 60 Minutes
On May 8, 2009, the Federal Reserve Board published the changes to Regulation Z that will fundamentally change the way mortgage lenders extend residential debt. Not only will the Early TIL apply to all RESPA applicable loans, it will mandate timing requirements that will have lenders counting in 3's, 7's and 6's; before closing the loan!
- The general disclosure requirements of the Mortgage Disclosure Improvement Act (MDIA);
- Expanded applicability of Early TIL to dwelling secured loans;
- General timing requirements for delivery of Early TIL;
- Waiting period requirements prior to consummation;
- Practical examples of timing scenarios to share with lenders for illustration;
- Question and answer sessions to allow participants to clarify expectations;
- Quick overview of High Priced Mortgage Loan (HPML) requirements to be discussed in greater detail with August 19 audio conference.
Speaker: David Bequeaith is a highly experienced trainer and long-time advocate for community banks in the areas of regulatory compliance and credit management. He has written and instructed the ICBA's Compliance Institute since 1994 and also facilitates the ICBA's Annual Certification Conference and Bank Secrecy Act Professional certification program.
NOTE: This is the first of three audio conferences on mortgage reform. Other events in this series include:
- August 19: Mortgage Reform - Higher Priced Mortgage Loans and Other Current Lending Changes
- November 4: Mortgage Reform - RESPA Reform with HUD Guidance
For more information, call ICBA Education at 800-422-7285.