> Webinar: Ability to Repay Part 2 – What Your Lending Staff Needs to Do to Comply

Thursday, August 01, 2013
3:00 PM Eastern Daylight Time
4:30 PM

Ability to Repay Part 2 – What Your Lending Staff Needs to Do to Comply:
Deadline January 10, 2014

The ability to repay concept is simple – make sure the borrower can pay before you make the mortgage loan. The CFPB’s final pronouncement on this simple concept contained 236,000 words. This webinar is the second of two presentations on this topic. It will address the management impact of the calculation rules and continue the discussion regarding the decisions management must make in the mortgage loan area. The program will focus on the second test for a “qualified mortgage” – debt to income. While you have been calculating this number for a long time, the CFPB has specific ideas on how it should be done – and they will likely require policy and procedure modifications.

The far-more problematic “residual income” issue and the impact this could have on your mortgage-decision process will also be covered. The session will conclude with the impact on balloon mortgages and the asset-liability management process. (The definition and impacts of “qualified mortgages” and “unqualified mortgages” and the “points and fees” test were covered in Part 1 on June 26).

This webinar will include changes announced by the CFPB on May 29, 2013.


  • The concept
  • The new calculation methods required for debt to income
  • The impact of “residual income”
  • The impact on balloon lending, and the management decisions that must be made


  • A calculation method that will assist in making the debt-to-income calculation, which you can edit to meet your individual needs
  • Electronic training log
  • Quiz you can administer to measure staff learning and a separate answer key

This program is the second of two in a series. The archived webinar is still available for:
Ability to Repay, Part 1 – New Rules that Impact Your Policies & Products: Deadline January 10, 2014
(See June 26, 2013, on the archived webinar listing.)

This informative session is designed for senior management, including those with responsibilities for loan management and asset liability management. Lenders, compliance personnel, underwriters, and loan processors will also benefit from this webinar.

ABOUT THE PRESENTER – Bill Elliott, CRCM, Young & Associates, Inc.
Bill Elliott has over 30 years of banking experience. As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.

Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank. He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout. 

PLEASE NOTE: Your registration fee allows you to have one telephone connection. However, as many people as you like may listen from your office speaker phone.  If you register for the webinar, your registration fee also includes one internet connection from a single computer terminal.


The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.  Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, pin number, and handouts will be emailed to you prior to the broadcast. You will need the most current version of Adobe Reader available free at www.adobe.com.

Can't attend the live webinar?  The ON-DEMAND WEB LINK** is a recording of the live event including audio, visuals, and handouts. We even provide the presenter's email address so you may ask follow-up questions. Approximately 1 week prior to the webinar, you will receive an email with the web link. This web link can be viewed anytime 24/7, beginning 6 business days AFTER the webinar and will expire 6 months after the live program date.  But there's more . . . AS AN ADDED BONUS, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts. Use the on-demand link or this "off-the-shelf" training program for those that could not attend the live seminar and for future training.

*CD Rom for PC use only
**All materials are subject to copyright and intended for your credit union's use only.

NEW! Listen on your iPad, iPhone, or Android. Instructions will be emailed to you with the on-demand link.

$199.00 Webinar per connection
$199.00 Archived On-Demand Web Link & Free CD ROM
$249.00 Both Live Webinar & Archived On-Demand Web Link & Free CD ROM

TIME: 3:00 p.m. - 4:30 p.m.

To register and pay by check, email Mary Zelinsky at mzelinsky@njcul.org and your credit union will be invoiced. To register and pay online, click here