Denied Loan Requirements A to Z
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
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- Explain the requirements for an incomplete or withdrawn application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application is denied, incomplete, or withdrawn.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
Brode Consulting Services, Inc.
© 2022 FINANCIAL EDUCATION & DEVELOPMENT, INC