Surviving a TRID Compliance Exam
Wednesday, October 4, 2017
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
The TILA/RESPA Integrated Disclosure (TRID) mortgage loan requirements continue to be a significant pain point for mortgage lenders. While examiners and auditors were initially looking for good faith compliance efforts, they are now requiring full compliance with even the most technical TRID requirements. This means mortgage lenders – led by their compliance and audit teams – need to be prepared and ensure their disclosures and procedures are compliant. These compliance efforts must span the TRID spectrum – including timing requirements, written lists of providers, tolerance levels and cures, as well as documenting the intent to proceed, changed circumstances, and confirmation of receipt of disclosures.
In many cases, negotiation and responses to draft findings are as important as preparing for TRID compliance exams or audits. The complexity of the TRID requirements (as well as their applicability to a broad spectrum of products with varying terms) has the potential to result in incorrect or overstated exam/audit findings. With so many of the CFPB’s interpretations provided informally (e.g., in the preamble to the final rule, CFPB webinars, or other resources), the potential for differing interpretations has significantly increased.
While a full review and analysis of the TRID requirements is not possible, this webinar will provide answers to common questions and likely areas of examiner/auditor scrutiny. Timing requirements, written lists of providers, and tolerance levels will be specifically analyzed. Documentation and record retention requirements will also be addressed.
Continuing Education: Attendance verification for CE credits upon request
- Timing requirements for loan estimates, written list of providers, revised loan estimates, and closing disclosures
- Review of tolerance levels and options for providing tolerance cures
- Documentation requirements for intent to proceed, changed circumstances, and a borrower's receipt of required disclosures
- Analysis of common questions and resources to assist in documenting compliance
- Tips for pinpointing regulatory sections for additional research and confirmation
- TAKE-AWAY TOOLKIT
- Summary of definitions of "application" and the two definitions of "business day"
- Summary of tolerance levels and examples of tolerance violations and cure processes
- Resource with answers (and regulatory citations) to frequently asked questions
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
RELATED WEBINARS STILL AVAILABLE!
|"Revisiting TRID Line-by-Line Part 1: Loan Estimate"
Tuesday, May 2, 2017
"Revisiting TRID Line-by-Line Part 2: Closing Disclosure"
Tuesday, June 6, 2017
WHO SHOULD ATTEND?
This informative session is designed for mortgage lenders, compliance staff, and audit teams. Having representatives from each department will ensure everyone is on the same page when preparing for or responding to a TRID exam.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.
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