Denied Loan Requirements A to Z

Lending

On-Demand Webinar

StreamedOct 14, 2021Duration90 minutes

Unlimited and shareable access
two business days after live streaming
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

It can be a long and winding road from loan application to fund disbursement.

Sometimes an application doesn’t beget a borrower. Then what? Examiners have long identified weaknesses in loan applications that don’t yield an originated loan. Don’t miss this chance to learn what is required when a loan is denied – and how to avoid the landmines.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Identify and document when an inquiry becomes an application
Explain the requirements for an incomplete or withdrawn application
Properly notify applicants when denying a loan request
Recognize potential fair lending discrimination practices
Accurately prepare counteroffers
Comply with Reg B’s timing requirements for loan denials
Identify when the FACT Act requirements are required for denial notices
Monitor for common errors on notices

WEBINAR DETAILS

An adverse action notice is designed to inform loan applicants that their application is being denied and provides the areas of concern. In addition to being informational, a loan denial triggers regulatory requirements under Regulation B and, depending on the denial reason, a Fair Credit Reporting Act notice may also be mandated.

This webinar will focus on pinpointing when an inquiry becomes an application, important timing requirements, and proper completion of the adverse action notice. Common regulator-identified errors will be explained and tips to avoid them will be provided. To help meet fair lending and Reg B compliance standards, participants will receive a tool designed to document the second review of a denied loan file. Join us as we navigate through the requirements of Regulation B and the Fair Credit Reporting Act when a loan application is denied, incomplete, or withdrawn.

WHO SHOULD ATTEND?

This informative session would best suit loan officers, loan processors responsible for denials or second reviews, compliance officers, and auditors.

TAKE-AWAY TOOLKIT

Application trigger chart detailed by regulation
Second review checklist of adverse action notices
Cheat sheet explaining each denial reason on the notice and which to use in different scenarios
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 agency is prohibited. Print materials may be copied for eligible participants only.

Presented By

Molly Stull