Complying with the 2017 TRID Amendments

Duration: 90 Minutes
The CFPB issued a rule in July modifying the federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act ("RESPA") and the Truth in Lending Act that are implemented in Regulation Z. This rule makes the CFPB's informal guidance on various issues official and makes several additional clarifications and technical changes. The rule also creates tolerances for the total of payments, adjusts a partial exemption mainly affecting housing finance agencies and nonprofits, extends coverage of the TILA-RESPA integrated disclosure ("TRID") requirements to all cooperative units, and provides guidance on sharing the disclosures with various parties involved in the mortgage origination process.
2017 TRID Amendments
Instructor: Jon Tavares
Product ID: 506849
Objectives of the Presentation
  • How to determine and apply the tolerance for the total of payments
  • When the sharing of disclosures is permitted and how to share without violating the consumer's privacy rights
  • How to properly disclose construction and simultaneous second lien loans
  • How to properly disclose the calculating cash to close table
  • How to determine the proper tolerance for charges paid to an affiliate
  • When and how to disclose a rate lock
  • How to properly disclose of lender and seller credits
Why Should you Attend
This presentation will provide a brief review of the existing TRID requirements and delve deeper into the finalized amendments that will be mandatory beginning October 1, 2018. The rule will be effective 60 days from the publication of the final rule in the Federal Register, i.e. soon. Many of the provisions provide additional clarification to issues that have dogged lenders and this presentation will tell you how you can take advantage of the newly clarified provisions before the mandatory compliance date.

Areas Covered
This presentation will cover, among other items, the following topics:
  • The new tolerances for the total of payments
  • The partial exemption affecting housing finance agencies and nonprofits
  • The new coverage requirement for cooperative units
  • The guidance on sharing disclosures with various parties involved in the mortgage origination process
  • The clarifications to: affiliate charges, calculating cash to close table, construction loans, decimal places and rounding, escrow account disclosures, escrow cancellation notices, expiration dates for the closing costs disclosed on the loan estimate, gift funds, the "In 5 Years" calculation, lender and seller credits, lenders' and settlement agents' respective responsibilities, the list of service providers, non-obligor consumers, partial payment policy disclosures, payment ranges on the projected payments table, the payoffs and payments table, payoffs with a purchase loan, post-consummation fees, principal reduction (principal curtailment), disclosure and good-faith determination of property taxes and property value, rate locks, recording fees, simultaneous second lien loans, the summaries of transactions table, the total interest percentage calculation, trusts and informational updates to the Loan Estimate
Who will Benefit
The following personnel will benefit from this critical and important training session:
  • Financial Institutions/other Lending and FinTech companies
  • In-house Legal and Compliance Executives
  • C-Suite Executives
  • Compliance Officers
  • Auditors and Audit Staff
  • All lending staff, including loan officers, loan operations, loan processors, and loan clerks
$300
Recorded Session for one participant
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Jon Tavares, JD, LLM, CRCM, NCCO is an independent regulatory compliance consultant and trainer. Having served as Corporate Counsel for a community bank, Compliance Officer at a regional bank, and Regulatory Change Manager at a large bank, Jon has varied and wide-ranging experience. He is knowledgeable in all aspects of banking compliance with an emphasis on advertising, military lending, mortgage, and privacy rules. He earned a Bachelor of Arts from San Diego State University and Master of Laws and Juris Doctor degrees from The University of Alabama School of Law. He is a Certified Regulatory Compliance Manager and NAFCU Certified Compliance Officer.
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