HELOC Compliance: Disclosures, Documentation, Advertising, Amending & More
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.
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
WEBINAR DETAILS
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.
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.
