Community Bankers for Compliance, Session 2 - Stevens Point

WBA Community Bankers for Compliance Program - Session II

Quarter 2 Topic: RESPA – Regulation X / The Role of a Compliance Council

In fall 2018, we solicited suggestions regarding areas in which compliance officers were struggling, and got many responses. In the first quarter of 2018, we looked at the general concepts of risk assessment and its use throughout the compliance process, using portions of mortgage lending as an example. We are continuing using the list of suggestions presented, and this quarter we will be focusing on the role of the compliance council in the life of your bank. See the agenda for a listing of the issues being addressed.

The balance of the day will be a discussion of the requirements of Regulation X: RESPA. While there have been no major changes in the regulation, the application of the servicing portion of the regulation has been altered with the concept of Successor in Interest. We will cover the regulation in full, with the presentation focused on those areas which will be most useful for the attendees. Some portions of the servicing rules will not apply to everyone, and those sections will be truncated. We will not be covering the Good Faith Estimate and HUD‐1 sections of the regulation, as they have limited to no use for attendees.

RESPA covers many topics, including mortgage origination, kickbacks and unearned fees, and servicing. In recent months, we have received hotline questions in all areas of the regulation, but most concerning is in the area of Section 8 of the underlying law (kickbacks and unearned fees). As banks struggle with market share, more and more management is trying to find ways to improve their position in the marketplace. Many, but not all, approaches are legal. We will include a section discussing real‐life hotline calls and marketing approaches where we have been asked for help, taking care not to include any information regarding the CBC member who submitted the question.

The day will end with the concepts and requirements of escrow, as we know that all banks do not offer that service to their customers. This will allow non‐escrow banks to head home early without missing important sections of the presentation.

The subjects for the regulatory update will be determined by circumstances and releases from the various agencies.

Who Should Attend?

Compliance Officers and Auditors should attend this session. In addition, all personnel with responsibilities for managing the compliance process, including senior management and others should also consider joining us for this session.

Registration Options

CBC Program Members:

$0 - CBC Program Members
$125 - each additional representative (single session)

Individual CBC Seminar Session Fees:

$375 - 1st representative (single session)
$125 - each additional representative (single session)

Presenter - Dale Neiss, CRCM, Consultant, Young & Associates, Inc.

Dale Neiss is a compliance consultant with Young & Associates, Inc. With over 30 years of banking experience in Denver, CO, Dale has developed and implemented compliance management systems, loan review and community reinvestment act (CRA) programs, and enterprise risk management (ERM) framework for multiple banks. He has held the titles of Compliance and Loan Review Manager, BSA and CRA Officer, and Enterprise Risk Management Director. Prior to his Denver, CO banking experience, Dale began his banking career with the Office of the Comptroller of the Currency in Indianapolis, IN as an associate national bank examiner. At Young & Associates, Inc., he provides consulting and training, as well as writes articles and compliance manuals. He holds the designation of Certified Regulatory Compliance Manager (CRCM) by the Institute of Certified Bankers in Washington, D.C.