2019 2-Day Workshop - Pontiac Michigan UR2DW-2019

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Pontiac MI - October 2nd & 3rd - $697 Numerous Requests have been received to hold a conference in Pontiac on October 2nd & 3rd – are you interested in attending?  Attend both days for $697 – Lunch is included! Wednesday/October 2, 2019 – Basic Training 101 9:00am – 10:30am - ...Learn More
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Pontiac MI - October 2nd & 3rd - $697

Numerous Requests have been received to hold a conference in Pontiac on October 2nd & 3rd – are you interested in attending?  Attend both days for $697 – Lunch is included!


Wednesday/October 2, 2019 – Basic Training 101

9:00am – 10:30am - Application Interview Process

Are you ready to implement the newly redesigned Uniform Residential Loan Application Fannie Mae 1003/Freddie Mac 65?  Your software provider is probably already sending you updates for the new Application form.  Lenders may begin using the newly revised URLA July 1, 2019 and the GSE Mandatory Deadline will be February 2020.  Does your software accommodate the new form?  We will take you step by step through the application and the application process.We will demonstrate how to properly request, collect and document the demographic information during the application interview.  If you are not planning to implement the new URLA, do you have to report to collect and report to HMDA?  Is the application you are using adequate & efficient to easily accommodate your HMDA responsibilities?  Maybe we can help!  It is during the application stage that the appropriate government monitoring information be requested for both ECOA/Reg B and HMDA purposes.

10:30am – 10:45am – Break

10:45am – 12noon – Putting the Parts Together for Perfect Processing - Michael Whitbeck/Uberwriter

Analyzing Credit – Understanding the Credit Report - Collecting supporting documentation – Ordering Out & Preparing a Perfectly Processed Package for Underwriting

12noon – 1:00pm – Luncheon

1:00pm – 2:30pm – Disclosure Requirements

Initial Disclosures are required under several regulations including TRID.  We will take you through the timing, delivery, signatures and retention requirements.  Depending on the type of transaction, additional disclosures may be required for ARM’s etc. Home Ownership Counseling Your Home Loan Tool Kit Affiliated Business Arrangement Disclosure Loan Estimate & Written Provider List ARM Program Disclosure, if applicable Flood Determination & Notice to Borrower
“Intent to Proceed?” - “Written List of Service Providers?” Estimating Escrows - Revised Loan Estimates - How do you document “changed circumstances” to retain for 3 years? Are you re-disclosing the LE even if you have not exceeded tolerances? Are you allowing waivers of time limitations? Providing applicants with conditional approval requirements before LE? Zero & 10% Tolerance Limits

2:30pm – 2:45pm – Break

2:45pm – 4:00pm – Action Taken - Pre-Application & Application

Pre-Application & Application Procedures – Discussions of Actions Taken such as Withdrawns, Incompletes, Counter Offers vs Counseling, Approved but not Accepted, Files Closed for Incompleteness, Denials under HMDA & ECOA – Government Monitoring Information – Application defined by ECOA & HMDA vs TRID 

         
Thursday/October 3, 2019 – Advanced Update & Review

9:00am – 10:30am – Field Guide to Underwriting- Michael Whitbeck/Uberwriter

Tips for Loan Originators, Processors, & Underwriters to help increase your number of approved loans by truly understanding the ins and outs of the guidelines. This session will better equip you  in complicated underwriting challenges, such as underwriting self-employed borrowers.

10:30am – 10:45am – Break

10:45am – 12noon – Still Having TRID issues? Troubleshooting & Solutions – Common Errors

Closing Disclosure Timing & Tolerance rules and limitations - Revised Closing Disclosure When must there be a new 3 day waiting period for corrected CD’s? Seller Closing Disclosure - Which definition of business day you should follow for disclosures? Charging fees… What is allowable & prohibited? Violations, Cures and Restitution Understanding Finance Charges & APR – Reg Z Smorgasbord - What is and what is not Finance Charge – Update on ATR & QM’s, HPML’s, Right of Rescission…and more!

12noon – 1:00pm – Luncheon

1:00pm – 2:30pm – What's new in Flood Compliance? Guidelines for Property Evaluations & Appraisals

We will cover the foundations of the Flood Insurance requirements for lenders as well as the amended rules and sample forms provided as a result of the final rules.  Flood Insurance rules with respect to mandatory escrowing of flood insurance premiums, subject to certain exemptions is required. Clarifications have been provided concerning force placed flood insurance whether an escrow account is established or not. Are you accepting Flood Insurance through Private Insurers?  Do you have to?

2:30pm – 2:45pm – Break

2:45pm – 4:00pm – HMDA & Fair Lending Issues

Basic Fundamentals of HMDA will be covered as well as Action Taken Codes to include Withdrawns, Incompletes, Counter Offers vs Counseling, Approved but not Accepted, Files Closed for Incompleteness, Denials under HMDA & ECOA – Government Monitoring Information – Application defined by ECOA & HMDA vs TRID

We will specifically address the implementation of the latest changes, including newly proposed rule to amend Regulation C.  The proposed rule change would apply to institutions with a home office or branch in an MSA with assets in excess of $46 million as of December 31, 2018.  It proposes:(i) two alternatives to increase the threshold for reporting data about closed-end mortgage loans so that institutions originating fewer than either 50 closed end mortgage loans, or alternatively 100 closed-end mortgage loans, in either of the two preceding calendar years would not have to report such data as of January 1, 2020;(ii) to adjust the threshold for reporting data about open-end lines of credit by extending to January 1, 2022, the current temporary threshold of 500 open-end lines of credit and setting the threshold at 200 open-end lines of credit upon the expiration of the proposed extension of the temporary threshold;(iii) to incorporate into Regulation C the interpretations and procedures from the interpretive and procedural rule that the CFPB issued on August 31, 2018; and(iv) to implement further section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act.

This will make final the partial exemptions and clarify the reporting required under 2018 amendments adopted under the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The exemptions provide covered institutions the option of reporting exempt data fields as long as they report all data fields within any exempt data point for which they report data; clarify that only loans and lines of credit that are otherwise HMDA reportable count toward the thresholds for the partial exemptions; clarify which of the data points in Regulation C are covered by the partial exemptions; designate a non-universal loan identifier for partially exempt transactions for institutions that choose not to report a universal loan identifier; and clarify the exception to the partial exemptions for insured depository institutions with less than satisfactory examination histories under the Community Reinvestment Act of 1977 (CRA). These changes would become effective on January 1, 2020.

Who Should Attend?

Anyone involved in Loan Origination, Application, Loan Processing, Closing, Underwriting, Auditing, Quality Control and/or Servicing of Real Estate loans will find this workshop to be a valuable tool and a worthwhile investment. The sessions provide you with confidence by reaffirming your lending procedures. Often times these sessions will not only help those who are new to mortgage lending, it will also fill in the blanks for those in underwriting, loan review and quality control.

Cancellation Policy
If you find it necessary to cancel, there is NO PENALTY FOR CANCELLATION if you cancel before 12noon on the Friday 2 weeks prior to the week of the workshop. Cancellations after this time may be credited to future trainings, webinars, products or services, less a $100 administration fee. If you are ready to build a strong foundation, without wasting your time, we invite you to attend.

Guarantee
Your complete satisfaction with every FIC conference is fully GUARANTEED! If for any reason, you feel you do not receive the educational benefit you need from our trainings, we will guarantee your money back! Our objective is to ensure that you receive a high-quality, effective training experience you need to stay one step ahead of the overwhelming task involved in keeping you abreast of regulatory changes in Real Estate Compliance!

Continuing Education
In efforts to pursue continuing education accreditation of the FIC Real Estate Compliance Conferences, we have found that each entity has it's own criteria to be met. If there is a specific trade organization, State banking association, State Bar or CPA organization, etc. that you would like our assistance in getting continuing education accreditations, please let us know or send us information and instructions. Though in most cases we are unable to absorb the fees of these organizations, we will be happy to assist you in the approval process.