Live Webinar

60-minute live streaming program
  • December 8
  • 1:00 - 2:00 pm EST

Loan Estimate Preparation Requirements

December 8

Learn to identify and recognize the content and format of the loan estimate.

In 2013, the Consumer Financial Protection Bureau (CFPB) published a final rule implementing the single, integrated disclosure for certain residential mortgage loan transactions, which includes mortgage loan disclosure requirements under TILA and Sections 4 and 5 of RESPA (or the TILA-RESPA Integrated Disclosure Rule, or TRID). TRID disclosures became effective on and after October 3, 2015, and are applicable to covered closed-end mortgage loans. Regulation Z provides integrated forms and imposes timing and related disclosure requirements for mortgage loans subject to its provisions. On loans covered and subject to the integrated disclosure provisions, a creditor must provide good faith estimates of the loan estimate disclosures for information on the content, form, and format of the disclosure. The creditor generally must deliver or place in the mail the loan estimate no later than three business days after receiving the consumer’s application and no later than seven business days before consummation. Generally, the creditor is responsible for ensuring that the loan estimate and its delivery meet the rule’s content and timing requirements. If a mortgage broker receives a consumer’s application, the mortgage broker may provide the loan estimate to the consumer on the creditor’s behalf. If it does so, the mortgage broker must comply with all requirements of the rule, as well as the three-year record retention. This topic will address the requirement of the content and titling of the delivery of the loan estimate.

Learning Objectives

  • You will be able to describe which transaction TILA applies to and which transactions require a loan estimate be provided.
  • You will be able to discuss the basis and timing of the loan estimate disclosures.
  • You will be able to explain the key elements of the loan estimate.
  • You will be able to identify and recognize the content and format of the loan estimate.

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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

Coverage and Applicability
  • Coverage and Applicability of the Federal Truth-In-Lending Act (TILA) and Regulation Z
  • Applicability of the TILA – RESPA Integrated Disclosures
TILA – RESPA Integrated Disclosures
  • Content and Format of the Early TILA – RESPA Integrated Disclosures (Loan Estimate)
  • Interplay of the Loan Estimate With Other Disclosures, Especially the Closing Disclosures
Key Elements of the Loan Estimate
  • Finance Charge and APR
  • Amount Financed
  • Required Deposit and Payment Schedule
Disclosure Requirements
  • Basis of Disclosures in Loan Estimates
  • Timing of Loan Estimate
Special Circumstances and Recordkeeping
  • Variable Rate/ARM Loans
  • Construction Loans
  • Recordkeeping
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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.

Credits

Live Webinar Registration

  • CPE 1.2 including Specialized Knowledge 1.2
     
  • 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: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 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 1.2 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.
     

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, loan officers, credit and collections managers, loan department personnel, compliance officers, financial counselors, and risk managers.

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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 Milano

James Milano

Weiner Brodsky Kider PC

  • Member, Weiner Brodsky Kider PC
  • Consumer finance, and consumer loan programs and compliance
  • Frequent speaker and author on consumer finance topics
  • Member of D.C., Virginia, Maryland, Georgia, and Louisiana State Bar Associations
  • LL.M. degree, Emory University; J.D. and B.A. degrees, Louisiana State University
  • Can be contacted at 571-214-5255 or [email protected]
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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.

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Product ID: 405767
Published 2021
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