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90-minute live streaming program
  • June 25
  • 1:00 - 2:30 pm EST

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Audio & Reference Manual

Ability to Repay and Qualified Mortgage Rules Under the Dodd-Frank Act: What Every Lender Should Know

June 25

Learn everything you need to know about qualified mortgage rules under the Dodd-Frank Act and the rules' effect on financial institutions.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), signed into law in 2010 and amended in 2013, contains a series of financial regulatory reforms intended to combat what was perceived by lawmakers as a lack of oversight leading to the recession and housing crisis of the late 2000's. One of the provisions of the Dodd-Frank Act requires creditors to make a reasonable, good faith determination of a consumer's ability to repay any consumer credit transaction secured by a dwelling (excluding an open-end credit plan, timeshare plan, reverse mortgage, or temporary loan) and establishes certain protections from liability under this requirement for qualified mortgages. This topic will examine the rule and explain what lenders need to know to remain compliant and protect their business.

Learning Objectives

- You will be able to identify what loans fall within the scope of the rules.

- You will be able to discuss exceptions to the ability-to-repay rule.

- You will be able to explain safe harbor for qualified mortgages.

- You will be able to review the amendments to the ability-to-repay and qualified mortgage rules.

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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Ability to Repay Determination
  • What Loans Fall Within the Scope of the Rules
  • Underwriting Guidelines Utilized in Making Determination Regarding the Ability to Repay
  • Exceptions to the Ability to Repay Rules
Safe Harbor for Qualified Mortgages
  • What Constitutes a Qualified Mortgage
  • Protections Afforded by Safe Harbor Status
  • Higher-Priced Mortgages Can Still Obtain Safe Harbor Status
July 2013 Amendments to the Ability-to-Repay and Qualified Mortgage Rules
  • Additional Exceptions to the Original Rule
CFPB Enforcement of the Rules and How Courts May Interpret the Ability to Repay and Qualified Mortgage Rules
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • Bankers 2.0 including CRCM 2
     
  • The "Ability to Repay and Qualified Mortgage Rules Under the Dodd-Frank Act: What Every Lender Should Know" program has been approved for 2.0 credit(s). This statement should not be viewed as an endorsement of this program or its provider." ICB Members must report these credits at www.icbmembers.org. This program has been approved in the following designation(s): CRCM for 2.00 hours.
     
  • CFP 1.5
     
  • The Certified Financial Planner Board of Standards, Inc. has granted 1.5 hours of continuing education credit. Level of Knowledge: Intermediate.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.8 hours of continuing professional education.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for presidents, vice presidents, attorneys, branch managers, directors, loan officers, loan department personnel, credit and collection managers, controllers, auditors, business executives, estate and financial planners, accountants, tax managers and enrolled agents.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Gennifer L. Bridges, Esq.

Gennifer L. Bridges, Esq.

Burr & Forman LLP

  • Attorney in the Orlando office of Burr & Forman LLP
  • Practice emphasizes all aspects of business and commercial litigation, and in particular financial services litigation, including highly contested foreclosures and defense against claims under consumer protection statutes such as the TCPA, FDCPA, FCCPA, TILA, and RESPA
  • Conducts regular seminars and workshops on numerous topics pertaining to financial services litigation and best practices for avoiding liability under consumer protection statutes
  • Author of several publications related to recent developments in case law affecting the application of consumer protection statutes and the ability of secured creditors to enforce security interests
  • J.D. degree, Florida State University, 2009, magna cum laude; B.A., Stetson University, 2004, summa cum laude
  • Member of the American Bar Association and Orange County Bar Association; admitted in Florida, Middle District of Florida and Southern District of Florida
  • Can be contacted at 407-540-6687 or [email protected]
Ashley M. Elmore Drew, Esq.

Ashley M. Elmore Drew, Esq.

Greenspoon Marder LLP

  • Senior Counsel in the Tampa office of Greenspoon Marder LLP
  • Provides legal and regulatory compliance guidance to business, real estate, and financial services clients on a wide range of Federal and State topics, including but not limited to the following: RESPA, SCRA, TILA, MLA, PACE Financing, Vendor Management, ECOA, FDCPA, FCRA, FACTA, UDAAP, FATCA, FACTA and myriad regulations. She also represents clients in regulatory and consumer defense litigation
  • Was featured in the Tampa Bay Business Journal, discussing the impact of the election on Dodd-Frank and the effect on community banks
  • Has written the following articles, “Opposition Mounts After Florida Court Eviscerates Lis Pendens”, published by Thompson Reuters in the Consumer Financial Services Law Report, Vol. 20, Issue 11, November 6, 2016, "CFPB Issues Examination Procedures for the Military Lending Act Rule", published by Burr Consumer Finance Litigation Blog on October 3, 2016; "New Risk from New Rules on Banker Pay", published by BAI, Banking Strategies on July 6, 2016; "The Best Defense is a Good Strategy: Planning for the Arbitration Rule", published by Burr Consumer Finance Litigation Blog on June 27, 2016; "Not Just the C-Suite: Regulators Issue Broad New Proposed Rule on Banker Compensation", published by Burr Consumer Finance Litigation Blog on April 25, 2016; "CFPB Receives Strategy Lesson—Court Holds it Overreached by Investigating For-Profit School Accreditation", published by Burr Consumer Finance Litigation Blog on April 27, 2016; "Do We Want the CFPB to Regulate the Practice of Law?", published by Burr Consumer Finance Litigation Blog on April 29, 2016; "NCUA Proposes Rule Easing Credit Union Commercial Property Occupancy Rule", published by Burr Consumer Finance Litigation Blog on June 29, 2016 and "Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot", published by Burr Consumer Finance Litigation Blog on June 29, 2016
  • Can be contacted at 813-769-7038 or [email protected]
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Product ID: 402921
Published 2016, 2018
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