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Review of TILA-RESPA Integrated Disclosure Rule, UDAAP, and Important Dodd-Frank Provisions

Learn why you need to pay extra attention to the various examination manuals issued by the CFPB.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) is one of the most significant consumer financial protection laws in the history of the country. One of the main elements of Dodd-Frank is the creation of the Consumer Financial Protection Bureau (CFPB), along with the consolidation of most federal consumer financial protection laws under the authority of the CFPB and the creation of supervisory authority over nonbank mortgage lenders. This topic will address why companies offering consumer financial products or services should pay attention to the various examination manuals issued by the CFPB. The material also will address the broad grant of authority under Dodd-Frank to the CFPB to address unfair, deceptive and abusive acts and practice, including the limited guidance that exists and lessons learned from certain CFPB enforcement actions. The topic will provide an update on the CFPB ability to repay rule for mortgage loans, and qualified mortgages that have a more favorable status under the rule. Finally, the topic will address the RESPA/TILA Integrated Disclosure (TRID) rule that combines the application and closing disclosures under the statutes that became effective in October 2015, and a recent proposal to amend the TRID rule.

Runtime: 90 minutes

Outline and Topics Covered

CFPB rules are incredibly complex for individuals in the financial industry, one key challenge is simply finding out which apply to their business and what the requirements for compliance are. This webinar provides an overview of current U.S. consumer protection provisions, and its divided into four modules:

  • An overview of the CFPB Supervision and Examination Manual, its themes and approach, and how best to use it as a professional resource
  • An in-depth look at the categories of unfair, deceptive and abusive acts and practices as defined in the Manual; their legal standing and enforcement options, as well as a review of best practices for compliance and protection
  • What the CFPBs ability to repay/qualified mortgage rule means for you, as well as a look at other related rules lenders should be aware of
  • The scope and time frame of the RESPA/TILA integrated disclosure rule, and an overview of loan estimating and closing disclosures in compliance with it

After completing the program, students may be eligible for a continuing education credit with their state bar association. The course is also offered as part of Lorman Education Services' Certificate of Banking Compliance program.

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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

Unfair, Deceptive and Abusive Acts and Practices

  • CFPB Rule
  • Unfair
  • Deceptive
  • Abusive
  • Legal Standards and Regulatory Guidance
  • CFPB Enforcement Actions
  • Lessons Learned
  • Effective Compliance Programs and Protection

Status of the CFPB Ability to Repay/Qualified Mortgage Rule and Related Rules

  • CFPB Rule
  • Points and Fees Cure
  • CFPB Request for Comments on Debt-To-Income Cure
  • FHA Qualified Mortgage
  • VA Qualified Mortgage

RESPA/TILA Integrated Disclosure Rule

  • Scope
  • Loan Estimate Basics and Considerations
  • Closing Disclosure Basics and Considerations
  • Proposal to Amend
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More Program Information

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.

Audio & Reference Manual

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

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More Program Information

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

Richard J. Andreano

Richard J. Andreano

Ballard Spahr LLP

  • Partner at Ballard Spahr LLP
  • Practice leader, Mortgage Banking Group, Ballard Spahr LLP
  • Fellow, American College of Consumer Financial Services Lawyers
  • Chambers USA: America's Leading Lawyers for business, banking and finance: financial services regulation: consumer finance (compliance), national ranking, 2014 to 2017
  • Wrote MBA Compliance Essentials Loan Originator Compensation Resource Guide, published by the Mortgage Bankers Association
  • Co-wrote, MBA Compliance Essentials TILA/RESPA Integrated Disclosure TRID Rule Resource Guide, published by the Mortgage Bankers Association
  • Editor-in-chief, Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute; author of chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-author of the Equal Credit Opportunity Act and Truth in Lending Act chapters
  • Counsels clients on residential mortgage regulatory matters, including ability to repay, TILA/RESPA integrated disclosure (TRID) rule, CFPB and other regulator supervision and examination, UDAAP and other Dodd-Frank matters
  • Frequent speaker and author on mortgage industry issues
  • Can be contacted at 202-661-2271 or [email protected]
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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.

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Product ID: 397783
Published 2016
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