Avoid Adverse Action Danger Zones: Requirements & Responsibilities After Loan Origination
September 25, 2024
Live Webinar
DateSep 25, 2024Duration90 minutes
08:00 AM PDT09:00 AM MDT
10:00 AM CDT11:00 AM EDT
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar
- 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
Examiners have long identified weaknesses in the generation of adverse action notices.
This webinar is an opportunity
to learn about notification requirements for both consumer and business
applicants. Common regulator-identified errors will be explained, and avoidance
tips will be provided. To help comply with fair lending and Reg B, participants
will receive a tool designed to document the second review of a denied loan
file.
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Accurately notify applicants when denying a loan request
- Properly inform applicants regarding an incomplete application
- Explain the requirements for an incomplete or withdrawn application
- Understand the notification options for business credit
- Comply with Reg B’s timing requirements for loan applications
- Effectively use the eight sample notification forms referenced in Regulation B
- Identify when the FACT Act requirements apply to denial notices
- Fulfill notification requirements when terms change for an existing borrower
- Monitor for frequently identified errors on adverse action notices
- Appropriately prepare counteroffers
- Conduct secondary reviews of adverse action notices for fair lending purposes
- Recognize potential fair lending discrimination practices
WEBINAR DETAILS
Timely communication with applicants and existing
borrowers is critical, especially when an application is being denied or pre-existing
loan terms are changing. Notices are designed to communicate concerns to
applicants and borrowers and explain how to complete loan application requests.
Along with being an informational notice, a loan denial triggers Regulation B
requirements, and depending on the reason for denial, a Fair Credit Reporting
Act (FCRA) notice may also be mandated.
This webinar will focus on pinpointing
when an inquiry becomes an application, important timing requirements, and
proper completion of an adverse action notice and other notification options,
including when there are unfavorable changes to the terms of an existing credit
arrangement.
WHO SHOULD ATTEND?
This informative session
is designed for all loan officers, loan processors responsible for denials
and/or second reviews, compliance officers, and auditors.
TAKE-AWAY TOOLKIT
- Application trigger chart detailed by regulation
- Chart explaining each statement of reason on the notice
- Second review checklist of adverse actions/withdrawn files
- Sample adverse action tracking log
- 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
Brode Consulting Services, Inc.
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC