TRID troubles? Are you ready for your next exam – or do you have questions? Examiners require full compliance with TRID’s complex regulatory and documentation requirements. Do you know the likely areas of scrutiny? This insightful session will outline common issues and best practices when preparing for and responding to exams or audits.
Examiners and auditors require full compliance with the detailed, technical TILA/RESPA Integrated Disclosure (TRID) requirements, including the 2018 TRID amendments. Given the complex requirements, mortgage lenders need to perform internal reviews and analyze mortgage practices to ensure their disclosures and procedures are compliant – and ensure they are appropriately positioned to push back on overstated or incorrect findings.
While a full review and analysis of the TRID requirements are not possible, this webinar will provide answers to common questions and likely areas of examiner or auditor scrutiny. Timing requirements, written lists of providers, and tolerance levels will be specifically analyzed. Documentation and record retention requirements will also be discussed.
- Timing requirements for loan estimates, written list of providers, revised loan estimates, and closing disclosures
- Tolerance levels, cure options, and when they can be "reset"
- Documentation options for intent to proceed, changed circumstances, and a borrower’s receipt of required disclosures
- Common questions and resources to assist in documenting compliance efforts
- Identifying regulatory sections and resources for additional research and confirmation
- Definition of "application" and the two definitions of "business day"
- Summary of the 2018 TRID amendments
- Resource with answers (and regulatory citations) to frequently asked questions
- Employee training log
- Interactive quiz
WHO SHOULD ATTEND?
This informative session is designed for mortgage lenders, compliance staff, and audit teams with the goal of ensuring everyone is on the same page when preparing for or responding to a TRID exam or audit.
ABOUT THE PRESENTER – Steven Van Beek, J.D., Howard & Howard Attorneys PLLC
Steve Van Beek is an attorney at Howard & Howard Attorneys PLLC where he concentrates his practice in the area of financial regulations. He assists financial institutions throughout the country manage and reduce compliance, legal, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.