Compliance with the TILA-RESPA Integrated Disclosure (TRID) rule is very complex and continues to be a frequently cited violation. Just when it seems compliance documentation requirements are satisfied, a change occurs. Whether borrower- or lender-initiated, changes happen for a variety of reasons, and you must be prepared to recognize opportunities to issue a revised Loan Estimate that enables critical tolerance levels to be reset. This webinar will review what constitutes valid TRID changed circumstances and how to issue a revised Loan Estimate in a timely manner. It will explain how to properly calculate if the change enables re-disclosure of the costs so that they stay within acceptable tolerance levels. Loan file documentation is critical to support the reason for the change and to clearly identify the fees that were directly impacted. This program is designed to ensure you are prepared to capture the opportunity to issue a revised Loan Estimate and properly support the lender’s reaction to a change.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Effectively address borrower-initiated change requests
- Recognize valid changed circumstances which permit the issuance of a revised Loan Estimate
- Explain the timing requirements associated with a valid changed circumstance
- Develop documentation to justify resetting baselines for tolerance testing
- Explain the importance of documenting fees impacted as a result of a valid changed circumstance
- Properly calculate variances of loan costs and their corresponding tolerance categories
TAKE-AWAY TOOLKIT
- Sample changed circumstances form
- Tolerance fee category example chart
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
WHO SHOULD ATTEND?
This informative session is designed for mortgage lenders, loan processors, loan review staff, auditors, compliance personnel, and any others involved in preparing the loan estimate.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
MEET THE PRESENTER
Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, branch mergers, charter changes, name changes, etc. Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process, they will be more compelled to follow the procedures. Molly holds a bachelor’s from the University of Akron and an MBA from Ashland University.
THREE REGISTRATION OPTIONS – WHAT YOU GET
1. LIVE WEBINAR 2. ON-DEMAND WEBINAR 3. BUNDLE & SAVE
- Unlimited live connections with shareable access within your institution
- Available to view on desktop, mobile & tablet devices
- Take-away toolkit
- Live Q&A session & the presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
- Unlimited and shareable access to the recording within your institution, starting two business days after the live date
- Available to view 24/7 on desktop, mobile & tablet devices
- Take-away toolkit
- Ability to download the webinar video and toolkit items
- Presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
- Save when you Bundle the Live + On-Demand Webinar Registration
- Includes all the items listed above
- Full registration descriptions can be found here
