MLO and NMLS Annual Training (Webinar)

Member Fee:  $165 per connection 
Non-Member Fee:  $265 per connection

Banks have been complying with the Mortgage Loan Originator rules since 2014 and examiners are still looking for compliance with the annual training requirements. How will you prove that the training has been provided and that it was effective? This compliance training outlines the required steps in EACH portion of the mortgage “life cycle”.

Topics include: 
  • Reg B requirements for the life of the loan; how to take and process an application. This will include the proper collection of monitoring information.
  • What is a “completed” application? What is a pre-approval request? What is a pre-qualification?
  • S.A.F.E. Act requirements
  • What disclosures are required within 3 business days after receiving a completed application?
  • Review of the “Ability to Repay” documentation requirements.
  • Review of Reg B requirements for appraisal copies
  • Flood Rules, notices, escrow requirements & exemptions, “detached structure” rules on residential property, calculation examples and common problems
  • Private Flood Insurance Policy requirements
  • FCRA issues – risk-based pricing notice to Home Loan Applicant
  • Review of HMDA data collection issues for loan applications in 2020.
  • REVIEW – Covered applications subject to the TRID provisions, timing requirements and common problems.
  •  What rescission rules must be followed?  When do they apply? What RESPA rules still apply?
  • NEW - The CFPB issued an interpretative rule on August 5, 2021 about the recission of closed-end mortgages based on a "business day" that excludes Federal Holidays. A NEW federal holiday of June 19th was declared this year. Are your loans that closed during that time in compliance?
  • What are the appropriate notifications for denied loans? How should approved, not accepted and withdrawn loan applications be documented?
  • BONUS - Participants will receive a 10-question quiz and an answer key. Passing the quiz will provide documentation of the effectiveness of the training effort. 

Mortgage loan originators, loan officers, loan assistants, loan operations staff, compliance officers, auditors and trainers

Susan Costonis 
is a compliance consultant and trainer.  She began her banking career in 1978 and specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies.  She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve.  Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado.  She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.  

12/8/2021 10:00 AM - 11:30 AM

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