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The CFPB’s TILA/RESPA Integrated Disclosure (TRID) requirements continue to cause confusion for mortgage lenders. Specifically, many mortgage lenders have lingering questions regarding the TRID tolerance levels and properly conducting the good faith analysis of fees and charges. This webinar will review mortgage lenders’ obligations under the TRID rules to track and monitor tolerance levels. The training will analyze the increased difficulty presented by situations where multiple loan estimates have been issued and a lender needs to determine which fees and charges to use when performing the good faith analysis. Lenders’ options and requirements for providing tolerance cures will also be addressed. Attendees will learn TRID tolerance levels, best practices for tracking fees and charges, and the required procedures for curing tolerances on the closing disclosure.
HIGHLIGHTS
Conducting the good faith analysis for tolerance violations
Examples of when a revised loan estimate can “reset” tolerance levels
Best practices for tracking revised disclosures and the appropriate fees for the good faith analysis
Providing tolerance cures via a lender credit on the closing disclosure
Post-consummation events triggering a tolerance cure and corrected closing disclosure
TAKE-AWAY TOOLKIT
Examples of tolerance violations and cure processes
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? Mortgage lenders, compliance staff, and audit teams. Having representatives from each department will ensure everyone is on the same page regarding the TRID tolerance levels and required cures.
ABOUT THE PRESENTER – Steven Van Beek, Esq., NCCO, Howard & Howard Attorneys PLLC, an attorney where he concentrates his practice in the area of financial regulations. He has intimate knowledge of the operational issues facing financial institutions and the best practices they can follow to reduce compliance, strategic, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.
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