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Getting escrow compliance right is very important to the borrower, your institution, and examiners. Especially with the new escrow requirements for flood insurance premiums in effect. Compliance requirements include initial analysis and disclosure, annual disclosures, recordkeeping, and more. In addition, RESPA, TILA, and flood compliance regulations all address when escrow is required. And now examiners are scrutinizing your procedures for shortages, surpluses, and deficiencies. It can all get quite confusing!
This webinar will review the entire escrow compliance process and reveal common errors and examiner citations and “hot buttons.” Checklists will be provided to assist with escrow requirements and to ensure your disclosures and statements are complete, compliant, and correct.
NOTE: The manual will be provided in procedural language so you will have a template to write or enhance your own escrow procedures.
HIGHLIGHTS
When escrow applies under RESPA, TILA (for high-priced mortgages), and flood insurance rules (including the new escrow requirements for flood)
Initial analysis for proper escrow amounts
How to disclose escrow on the new TRID documents?
Requirements for initial disclosure as well as annual and short-year statements
Handling shortages, surpluses, or deficiencies
TAKE-AWAY TOOLKIT
Audit procedures for escrow requirements.
Sample checklists to test the content of your disclosures
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Compliance officers, lending operations personnel, and auditors.
ABOUT THE PRESENTER – Ann Brode-Harner, Brode Consulting Services, Inc., 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.
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