School
$795 Tuesday, November 5, 2019 9:00 AM 60 Gasser Road Wisconsin Dells, Wisconsin 53965 Register

The 2019 WBA Auditing Real Estate Loans Seminar will be held Nov. 5 – Nov. 7 in the Wisconsin Dells at the Wintergreen Resort. Classes will begin at 9:00 a.m. on Tuesday and conclude at 4:00 p.m. on Thursday. 

Instructor: Bill Elliott – Young & Associates Inc. 
With over 35 years of banking experience, Bill Elliott leads the compliance department at Young & Associates, Inc. where he conducts compliance reviews, leads compliance seminars, conducts in-house training, and writes compliance articles and training materials. During his career as a banker, Bill spent 15 years as a compliance officer in a large community bank. He has also been a lender for consumer, commercial, and mortgage loans, and has managed a variety of bank departments including loan review, consumer/commercial loan processing, mortgage loan processing, loan and credit administration, collections, and commercial loan workout.

Auditing Real Estate Loans: 3-Day Seminar 
* Schedule assumes approximately six teaching hours per day 

Schedule:

Day One

  • Introduction (.5 hours)
    • Preparing for the Audit
    • The Regulatory and Examination Environment
  • Knowledge Preparation (1 hour)
    • RESPA and Regulation Z Coverage
    • Finance Charges and APRs (12 C.F.R. § 1026.4)
    • Regulation B Overview [13 C.F.R. § 1002]
  • Auditing Regulation B - Fair Lending Compliance (2 hours)
    • Introduction
    • Types of Lending Discrimination
    • Fair Lending Audit Scope Guidelines
    • Compliance Management Fair Lending Review
    • Fair Lending Examination Procedures Overview
    • Fair Lending Risks With No Credit Score
    • Underwriter Interview Questionnaire 
    • Auditing the Application
    • Auditing the Result – approval/denials
    • Auditing individual denial notices
    • Reviewing Appraisal Disclosure/Availability
  • Auditing Flood (1.5 hours)
    • Initial determinations 
    • Properties in a flood zone
    • Flood insurance basics
    • Force placed flood insurance
    • Other miscellaneous flood issues

Day Two: Auditing TRID (6 hours)

  • Timing:
    • Loan Estimate Timing 12CFR § 1026.19(e)
    • 12 CFR § 1026.19(e)(2) Pre-disclosure Activity
    • 12 CFR § 1026.19(e)(3) Good faith determination for estimates of closing costs 
    • 12 CFR § 1026.19(e)(3)(iv) Revised Estimates
    • § 1026.19(e)(4) Provision and receipt of revised disclosures.
    • Closing Disclosure 12CFR § 1026.19(f)(1)
    • Closing Disclosure Subsequent Changes 12CFR § 1026.19(f)(2)
    • Closing Disclosure Charges Disclosed 12CFR § 1026.19(f)(3)
    • Closing Disclosure - Seller 12CFR § 1026.19(f)(4)
    • Special Information Booklet 12CFR § 1026.19(g)
  • Loan Estimate:
    • Loan Estimate General 12CFR §1026.37(a)
    • Loan Terms 12 CFR § 1026.37(b) 
    • Projected Payments 12 CFR § 1026.37(c) 
    • Costs at Closing 12 CFR § 1026.37(d)
    • Web Site Reference 12 CFR § 1026.37(e)
    • Closing Cost Details 12 CFR § 1026.37(f)
    • Closing Cost Details; Other Costs 12 CFR § 1026.37(g)
    • Calculating Cash to Close 12 CFR § 1026.37(h)
    • Adjustable Payment Table 12 CFR § 1026.37(i) 
    • Adjustable Interest Rate Table 12 CFR § 1026.37(j)
    • Contact Information 12 CFR § 1026.37(k)
    • Comparisons 12 CFR § 1026.37(l)
    • Other Considerations 12 CFR § 1026.37(m)
    • Signature Statement 12 CFR § 1026.37(n)
    • Form of Disclosures 12 CFR § 1026.37(o)

Day Three

  • Auditing TRID, Closing Disclosure (2 hours)
    • Closing Disclosure General 12 CFR § 1026.38(a
    • Loan Terms 12 CFR § 1026.38(b) 
    • Projected Payments 12 CFR § 1026.38(c)
    • Costs at Closing 12 CFR § 1026.38(d)
    • Alternative Calculating Cash to Close Table 12 CFR § 1026.38(e)
    • Closing Cost Details; Loan Costs 12 CFR § 1026.38(f)
    • Closing Costs Detail; Other Costs 12 CFR § 1026.38(g)
    • Closing Cost Subtotals, Totals, and Lender Credits 12 CFR § 1026.38(h)
    • Closing Cost Final Totals 12 CFR § 1026.38(i)
    • Summary of Borrower’s Transaction 12 CFR § 1026.38(j)
    • Summary of Seller’s Transaction 12 CFR § 1026.38(k) 
    • Loan Disclosures 12 CFR § 1026.38(l)
    • Adjustable Payment Table 12 CFR § 1026.38(m)
    • Adjustable Interest Rate Table 12 CFR § 1026.38(n)
    • Loan Calculations 12 CFR § 1026.38(o) 
    • Other Disclosures 12 CFR § 1026.38(p) 
    • Questions Notice 12 CFR § 1026.38(q) 
    • Contact Information 12 CFR § 1026.38(r)
    • Signature Statement 12 CFR § 1026.38(s)
    • Form of Disclosures 12 CFR § 1026.38(t)
  • Auditing QM, ATR (1 hour)
    • Scope
    • Qualified Mortgage definitions
    • Points and Fees
    • Limits on Points and Fees for Qualified Mortgages
    • Total Loan Amount
    • Repayment Ability
    • Appendix Q to Part 1026: Standards for Determining Monthly Debt and Income
  • Auditing Other Parts of Regulation Z/RESPA (2 hours)
    • Reviewing Contractual Loan Documents from a non-Attorney perspective
    • Reviewing Right of Rescission [12 C.F.R. § 1026.23) and HOEPA (12 C.F.R. § 1026.32]
    • Reviewing Higher Priced Mortgage Loans
    • Reviewing PMI Disclosures
    • Reviewing RESPA Kickbacks
  • Auditing BSA/FCRA Requirements (1 hour)
    • CIP
    • OFAC
    • FCRA Related issues

 


$795 Tuesday, November 5, 2019 9:00 AM 60 Gasser Road Wisconsin Dells, Wisconsin 53965 Register