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Fair Lending and Related Mortgage Developments and Trends

Understand the federal regulatory guidance concerning fair lending issues in mortgage originations, marketing, and servicing.

Banks and financial institutions continue to face regulatory actions based on fair lending violations. In particular, the products and services that banks offer and the way these products are delivered is being challenged to be faster and nimbler. Today's bank must consider non-traditional mortgage origination in areas that were once considered outside the banking zone; including being able to originate loans using such tools as internet products and payment platforms. This topic will describe the areas of concern for regulators who are looking at compliance with fair lending laws and the possibility of disparate impact. In addition, we will discuss the interaction of the fair lending laws with various other regulations (e.g., Equal Credit Opportunity Act, Flood Insurance Rules and the Unfair, Deceptive, Abusive Acts or Practices Act). Finally, we will discuss strategies for monitoring compliance as products and services change.

88 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 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

Consumer Compliance Regulations All Have a Particular History

  • In Each Case Consumer Regulations Have Been Developed Based on Behavior or Practices That Have Caused a Public Outcry
  • Similar History of Fair Lending Laws
  • Community Reinvestment Act (CRA) Fair Lending Components

Fair Lending Laws Are Directly Related With and Intertwined With Several Other Regulations

  • The Unfair, Deceptive, Abusive Acts or Practices Act (UDAAP)
  • The Use of Appraisals and Real Estate Valuations Also Can Present Issues With Compliance With Fair Lending Rules
  • A Violation in This Area Is Likely to Be Systemic, Which Can Lead to Large Fines and Even the Dreaded Look-Back

Fair Lending Laws

  • The Fair Lending Examination Procedures of the Regulators All Include a Section for Reviewing Consumer and Commercial Loans
  • Factors That an Examiner Will Review When Performing the Commercial Loan Portfolio
    • Pricing Disparity
    • Pricing Exception
    • Underwriting Disparity

Are You Ready for a Fair Lending Examination?

  • Questions That Should Be Answered When Considering the Overall Effectiveness of the Fair Lending Program
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Why Lorman?

Over 34 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 Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on October 19, 2021.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • 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 Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. 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, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • 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: 1.0 CLE credit(s).
     
  • HI CLE 1.25
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.25 CLE credit hours.
     
  • IL CLE 1.25
     
  • This course was approved for a total of 1.25 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ND CLE 1.5
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.5 hours of CLE credit.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 87 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.
     
  • 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, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 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.
     
  • VT CLE 1.5
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 6 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WI CLE 1.5
     
  • This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • NJ CLE 1.8
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

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Why Lorman?

Over 34 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

James DeFrantz, CRCM, CAMS, J.D.

James DeFrantz, CRCM, CAMS, J.D.

Virtual Compliance Management

  • 30 years of experience in financial service regulatory compliance
  • Worked with money service businesses in the United States and internationally, including consulting with money remitters, Fintech lenders and foreign exchange firms
  • Specialist in compliance in consumer and real estate lending, BSA, CRA, fair lending, consumer operations, non-deposit investment products, note department operations, assessment of ALL, and credit approval process
  • Served as a senior compliance examiner at the Federal Reserve Bank in San Francisco, as an analytical manager at the Office of Thrift Supervision, and as a commissioned national bank examiner at the Office of the Comptroller of the Currency (OCC)
  • Certified Regulatory Compliance Management and Certified Anti- Money Laundering Specialist
  • Certificate, Pacific Coast Banking School of Bank Management; J.D. degree, with a concentration in banking and finance, University of San Francisco; B.A. degree, Dartmouth College
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More Program Information

Why Lorman?

Over 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408848
Published 2021
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