Avoid Adverse Action Danger Zones: Requirements & Responsibilities After Loan Origination

Collections Compliance Lending Operations

On-Demand Webinar

StreamedSep 25, 2024Duration90 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

See Registration Options

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Explain the requirements for an incomplete or withdrawn application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.

TESTIMONIALS

"I always enjoy Webinars where Molly Stull is the speaker as she is very knowledgeable, and it shows! She has gained this through research and experience in the field. She provides practical examples to get the material through to the participants. She is always willing, even after the webinar, to work with participants to get answers. Her materials are EXCELLENT! Go Molly! You are a very valuable trainer!"

- Chris, MainStreet Bank