About This Course:
In this webinar we will go over the checklists that chronologically lead lenders and processors through the various lending compliance requirements, and financial institutions that properly use these checklists will virtually eliminate compliance errors.
The training will include a supplementary booklet explaining each checklist requirement. The individual checklists will be formatted in Word and can easily be saved to a word processor (or bank network) and printed as needed.
We will also provide designed companion worksheets that can be used to audit consumer loans. Those worksheets will be available to webinar registrants upon request.
What You'll Learn:Covered Topics:- Truth in Lending (right of rescission, high-cost mortgages, HPMLs, ARMs, TRID disclosures)
- RESPA
- HMDA
- Reg B (appraisal copies, joint credit, adverse action)
- Flood insurance
- Appraisals and evaluations
- FACTA credit score disclosures
- Insurance disclosures
- Military Lending Act
Who Should AttendLenders, loan processors, compliance officers and loan review personnel will all benefit from these checklists.
Top FAQs
A mortgage processor collects and reviews income, expenses, etc. If the information is favorable, the loan application is forwarded for loan underwriting. Essentially, the process determines the lender's ability to repay the loan.
The process for earning a "certification" involves taking advanced education, then passing an exam.
A mortgage processor is responsible for assembling, administering, and processing loan application paperwork before it gets approved.
While Mortgage Loan Officers must be licensed, most states do not require loan processors to be licensed. That said, be sure to check your state's requirements.
Depending on where you live, loan processors can expect to earn $50,000 or more.
Mortgage certification programs offer mortgage professionals a chance to acquire essential skills, enhance their professional standing, and earn more.
