A home equity line of credit (HELOC) is a type of highly regulated loan. From disclosures to advertisements to timing, and more, there are specifications and special rules around every corner. Do you know when and how a lender can decrease, suspend, or terminate a HELOC? Join us to learn about HELOC compliance from application to end-of-draw. HELOCs require special disclosures in the loan documents, exact wording in advertisements, limitations on when a lender may decrease or suspend a HELOC, and specific timing requirements for disclosures that must be sent before a HELOC matures. Regulation Z prohibits a lender from changing any HELOC term except in very limited circumstances. This webinar will explain the required HELOC disclosures and advertising restrictions. It will address the specific situations when a lender is permitted to decrease, suspend, or terminate a HELOC, and the steps that must be taken. In addition, you’ll learn how to handle HELOCs nearing their end-of-draw periods.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the specific disclosures that must be present in your institution’s HELOC documents
- Analyze the restrictions imposed on HELOC advertising and the special wording that must be used
- Distinguish when a change-in-terms notice must be sent to the borrower
- Explain the special notice that must be given when a HELOC is reduced, suspended, or terminated
- Determine if a HELOC can be terminated when the borrower moves out of the home or if it significantly declines in value
- Explain how to properly manage HELOCs nearing their end-of-draw period
TAKE-AWAY TOOLKIT
- HELOC advertising checklist
- Interagency Guidance on Home Equity Lines of Credit Nearing Their End-of-Draw Period
- Interagency Guidance on Credit Risk Management for Home Equity Lending
- 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 all mortgage loan officers, loan operations personnel, managers, compliance officers, internal auditors, marketing personnel, and attorneys.
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
Shelli Clarkston, JD, LLM, Spencer Fane LLP
Shelli Clarkston is an attorney with Spencer Fane LLP where she provides financial institutions with proactive legal counsel on regulatory and compliance matters. She received her law degrees from the University of Missouri – Kansas City and her undergraduate degree from the University of Nebraska – Lincoln. In addition, she has a master’s degree from Doane University. Before joining Spencer Fane, Shelli was the Risk and Compliance Officer for a financial services technology platform with one of the world’s largest technology companies. She oversaw the platform’s regulatory compliance and handled all risk-related matters. She also has experience as general counsel for a community bank, where she managed all legal, regulatory, compliance, and corporate matters.
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
