> Webinar: CFPB Examination Procedures for Mortgage Loan Originators: Effective January 10, 2014

Tuesday, September 10, 2013
3:00 PM (GMT-05:00) Eastern Time (US & Canada)
4:30 PM

In January 2013, the Consumer Financial Protection Bureau (CFPB) issued the long-awaited final rules regarding mortgage loan originator compensation and qualification requirements under the Truth in Lending Act (TILA), as amended by the Dodd-Frank Act.  The new compensation rules potentially have a major impact on mortgage loan officers/originators and financial institutions themselves.

These changes will affect policy and procedures and will include self-testing of the new compensation guidelines.  Examiner guidance has been issued and financial institutions will be scrutinized regarding compliance with the new rules.  This is a must-attend webinar in order to prepare for the January 10, 2014, deadline!  You will be provided the tools you need to be compliant by this fast-approaching deadline.  Issues will be discussed step-by-step, example-by-example.

HIGHLIGHTS

  • Which loans apply?
  • Who qualifies as a Mortgage Loan Originator under the new compensation rules?
  • Compensation issues and examples (as well as what is not included)
  • How to determine if compensation is based on a transaction term
  • Issues when compensation is received directly from a consumer
  • Commissions for performing activities that are not loan-origination activities
  • “SAFE” compensation methods

TAKE-AWAY TOOLKIT

  • The manual will be provided in Word so sample documents and language can be easily incorporated into your policies and procedures.
  • New requirements fact sheet
  • Audit procedures for self-testing before examiners arrive
  • Employee training log

Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?
This informative session is designed for loan supervisors, compliance officers, and auditors.

ABOUT THE PRESENTER – Ann Brode, Brode Consulting Services, Inc.
Ann Brode began her career in 1973 and has continued her service as a consultant to regional and community financial institutions through a wide range of areas including strategic planning, lending, deposits, marketing, training, compliance, and management.  Ann is a well-respected presenter and has spoken to audiences across the country for over 25 years.  She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin as well as many other state banking schools.  Ann is the author of The Bank Deposit Documentation Manual for Front-Line Personnel, published by Bankers Publishing Company, and is well represented in numerous industry publications.

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.

THREE REGISTRATION OPTIONS
1.  LIVE WEBINAR

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.

2.  ON-DEMAND WEB LINK** AND FREE CD ROM*
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.

3.  BOTH LIVE WEBINAR AND ON-DEMAND WEB LINK** (INCLUDES FREE CD-ROM*) Includes options 1 and 2 above
*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.

INVESTMENT:
$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