Understand the requirements of the current regulations and statutes and specific issues involved in a mortgage transaction.
Since the early 2010s, there have been several statutes created and modified that apply to consumer credit transactions and mortgage transactions. There are several requirements dealing with the process, from obtaining a license as a mortgage originator; to taking a loan; to settlement. This presentation will provide a refresher for those requirements through an analysis of the current regulations and statutes and specific issues involved in a mortgage transaction. This program will be of assis-tance to attorneys, as well as loan officers and credit and collection managers.Learning Objectives
- You will be able to describe requirements of mortgage loan originators under the SAFE Act.
- You will be able to discuss concepts covered in Regulation X and Regulation Z.
- You will be able to explain general requirements for high-cost mortgages under HOEPA.
- You will be able to review a Good-Faith Estimate (GFE) and understand what charges are permitted and which charges are not.
Agenda
Regulation Z - 12 CFR Part 1026 - Implements Truth in Lending Act (TILA)- General Concepts
- Closed-End Credit
- Home Mortgage Transactions
- General Concepts
- High-Cost Mortgages / Section 32 Loans
- Good Faith Estimates (GFEs)
- HUD-1 Settlement Statements
- Escrow Accounts
- Timing of Disclosures
- General Concepts
- Mortgage Loan Originator (MLO) and SAFE Act Responsibilities
- National Mortgage Licensing System (NMLS)
Speaker(s)
Christopher DeNardoLOGS
- Vice Chair, Bankruptcy Practice Group for LOGS Legal Group
- Practice emphasizes on bankruptcy as well as creditors’ rights, foreclosure, and title issues in real estate
- Frequent speaker at seminars and live webinars on bankruptcy, creditors’ rights, and foreclosure
- Current Vice Chair of the Bankruptcy Committee for the American Legal and Financial Network (ALFN)
- J.D. Widener University School of Law; B.A. Susquehanna University
