Has your bank’s lending staff basic knowledge of loan documentation kept up as doc prep systems and centralized delivery systems have evolved? Loss prevention requires community bankers to maintain a good working knowledge of documentation concepts and proper lien perfection. This course focuses on the key risk issues related to real estate loans, Uniform Commercial Code, title opinions and insurance, legal entities and more which face community bankers today.
- Legal Documentation Overview - Organizational Documents, Uniform Commercial Code, Title Insurance, Real Estate Documentation and Other Aspects of Collateral Lending
- Determining the documentation requirements for secured and unsecured consumer, commercial and real estate loans
- Managing the documentation and closing process
- Perfecting security interests in collateral with regard to UCC, titled personal property and real estate
- Discussion of recent court decisions relating to collateral perfection
- Suggestions for enhancing the secondary review process
Regulators want to make sure that no stone goes unturned and technical compliance does not become the next wave for a media frenzy. Today their “Deep Dive” goes beyond the basics. This is just the beginning. In this workshop we will explore the technical requirements behind recent regulatory exam reports. Have you revised your compliance procedures to reflect your practices in relation to all of the regulatory changes? Bring a copy of your compliance procedures and we’ll revise them together during this interactive, informative session.
- RESPA 2010 – Good faith estimate – before you can even begin to complete the GFE you must know if you have a “higher priced” loan AND if you are subject to escrow
- Truth-in-lending – are you waiting 7 days to close a loan? Can you identify a “higher priced” loan? Where do you obtain the APR to used in the FFIEC calculator
- Escrow – are you over-reserving – strict guidelines mandate exactly how much you can and cannot reserve
- Adverse Action – are you denying loans solely based on credit score thus requiring a different disclosure on the adverse action letter
- · HMDA – more errors than ever, typically in the application date, income, and rate spread
· FACT Act – Credit Score Disclosure – Are you providing it on denied loans? There is no 3 day exclusion
· Disclosure, disclosure, disclosure – What are you providing? How are they getting created? What is the lender telling the applicant?
This program is designed for personnel with loan documentation preparation responsibilities, experienced loan officers who desire a review or update, credit department personnel, loan review personnel and new loan officers.
Loren P. Pessolano and Elizabeth L. Jones are associates with Credit Risk Management, LLC. Credit Risk Management, LLC provides consulting, educational and comprehensive credit related services.
Registration fee is $195 for ABA members and nonmembers. Fees include instruction, materials, refreshments and lunch. Registration begins at 8:30 a.m.
Full registration fees will be refunded if a cancellation is received on or before ten days prior to the program. If date of cancellation is less than ten business days prior to the program, a $100 processing fee will be retained. No refunds will be given the day of the program. Substitutions are welcome. All cancellations and substitutions must be received in writing.
Dress for the program is business casual. To ensure your comfort, please bring a jacket or sweater. If you need additional information, please contact The Alabama Bankers Association office.
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