HELOC Compliance: Disclosures, Documentation, Advertising, Amending & More
On-Demand Webinar
StreamedNov 30, 2022Duration90 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Popular, highly regulated, and detail driven, HELOCs are often a consumer’s product of choice to access the equity in their home.
This
detailed program will address HELOC advertising, application, changes, draws,
disclosures, amendments, termination, guidance, and more. Ensure your program checks off all the
compliance “boxes.”
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the specific disclosures required in HELOC documents
- Analyze the restrictions on advertising HELOC products and the mandatory special wording
- 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 the home significantly declines in value
- Properly manage HELOCs nearing their end-of-draw period
WEBINAR DETAILS
A home equity line of credit is a special type of
loan that is highly regulated. Every
aspect of a HELOC has special rules.
There are special disclosures to include in loan documents, specific
wording required in advertisements, particular limitations on when the lender
may decrease or suspend a HELOC, and special timing requirements for
disclosures that must be sent before a HELOC matures. Regulation Z prohibits a lender from changing
any term of a HELOC, except in very limited circumstances. This webinar will explain the required HELOC
disclosures and the restrictions on HELOC advertising. It also will explain the specific situations
when a lender is permitted to decrease, suspend, or terminate a HELOC, and the
proper steps a lender must take to do so.
In addition, how to handle HELOCs nearing their end-of-draw periods will
be covered.
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.
TAKE-AWAY TOOLKIT
- HELOC advertising checklist
- Interagency Guidance on Home Equity Lines of Credit Nearing Their End-of-Draw Period
- Interagency Guidance on Credit Risk Management for Home Equity Lending
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Spencer Fane LLP
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