The ability to repay concept is simple – make sure the borrower can pay before you make the mortgage loan. The CFPB’s final pronouncement on this simple concept contained 236,000 words. This webinar is the first of two presentations on this topic. It will address the management impact of this new rule and the decisions that must be made in the mortgage loan and asset liability management areas. The definition and impacts of “qualified mortgages” and “unqualified mortgages” will be covered, as well as the “points and fees” test. This test is one of the two tests required to determine qualified or unqualified status. (The actual ability to repay calculation and the proper approach for balloon mortgages will be included in Part 2 on August 1.)

HIGHLIGHTS

  • The concept
  • How this new regulation affects risk management
  • Decisions that need to be made and the timing of those decisions
  • Definitions and their impact
  • The points and fees test
  • TAKE-AWAY TOOLKIT
    • “Quick review” chart to assist your credit union in making decisions about the fees you charge that are included in “points and fees” and what charges can be omitted

DON’T MISS PART 2!

This program is the first of two in a series.  Watch for

Ability to Repay, Part 2 – What Your Lending Staff Needs to Do to Comply:

Deadline January 10, 2014

on Thursday, August 1, 2013.

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND?

This informative session is designed for senior management, including those with responsibilities for loan management and asset liability management.  Lenders, compliance personnel, underwriters, and loan processors will also benefit from this webinar.

Please note:  The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.

ABOUT THE PRESENTER – Bill Elliott, CRCM, Young & Associates, Inc.

Bill Elliott has over 30 years of banking experience.  As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.

Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank.  He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.

THREE REGISTRATION OPTIONS

Note:  All materials are subject to copyright.  Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited.  Print materials may be copied for eligible participants only.

1.  LIVE WEBINAR

The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.  Registrants receive a toll-free number and pass code that will allow entrance to the seminar.  The session will be approximately 90 minutes, including question and answer sessions.  Seminar materials, including instructions, PIN number, and handouts will be emailed to you prior to the broadcast.  You will need the most-current version of Adobe Reader available free at www.adobe.com.

 

Convenient!

Listen to the
archived webinar on your

iPad

iPhone

Android

Instructions will be emailed with the archived webinar link.

2.  ARCHIVED WEBINAR & FREE CD ROM*

Can’t attend the live webinar? The archived webinar is a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address so you may ask follow-up questions. Approximately one week prior to the webinar, you will receive an email with the archived webinar link. This webinar link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.

As an added bonus, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts.  Use the archived webinar or this “off-the-shelf” training program for those that could not attend the live seminar and for future training.

The archived webinar (including the free CD ROM) may ONLY be ordered for 6 months following the webinar. Neither will be available after this time.

3.  BOTH LIVE WEBINAR & ARCHIVED WEBINAR (INCLUDES FREE CD ROM*)

Options 1 and 2 described above

AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE

*CD ROM is for Mac and PC use only

This event is being conducted by CU Web Training on behalf of the Missouri Credit Union Association.   Click here to register:  https://mcua.fed.cuwebtraining.com/store/webinar

June 26th, 2013 2:00 PM   through   3:30 PM

Event Info

When

June 26th, 2013 2:00 PM   through   3:30 PM

Contact

Phone: 314.542.1321

Email:


Help spread the word

Please help us and let your friends, colleagues and followers know about our page: Webinar: Ability to Repay, Part 1 – New Rules that Impact Your Policies & Products: Deadline January 10, 2014


You can also share the below link in an email or on your website.
https://www.mcua.org/civicrm/event/info?id=498&reset=1