Regulation Z Rules for Home Equity Lines of Credit

November 29, 2022

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Description:

Register by October 21st and take advantage of our Early Bird Pricing!

All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).

WHAT

Regulation Z Rules for Home Equity Lines of Credit has been submitted to ABA Professional Certifications for CE credit review and is pending approval. Once we receive notification of the credit approval, we will notify attendees.

Since 1989 Regulation Z has required financial institutions to develop special home equity lines of credit (HELOC) program disclosures. Many other regulations also apply to HELOCs, frequently with provisions that are unique for this type of credit. HELOCs are complicated. There are layers of disclosures provided at application, closing and throughout the life of the line. There are restrictions that apply to HELOCs that do not apply to other types of loans. There are unique portfolio management issues such as how to handle lines that are nearing the end of their draw periods, and limitations on selecting a new index when the existing index expires.

WHY

This two-hour program explains how to develop, maintain and audit HELOC program disclosures and provides an overview of other required disclosures. The program explains the rules, reviews typical problems, and provides steps to assure ongoing compliance.

Participants receive a detailed manual that serves as a handbook long after the program is completed.

PROGRAM CONTENT

Upon completion of the program attendees understand

  • Which transactions are covered by or exempt from Regulation Z;
  • The differences between open-end and closed-end credit;
  • The specific requirements for Home Equity Plans:
    • Coverage
    • Timing of the application disclosures;
    • Content of the application disclosures;
    • The brochure entitled “What You Should Know About Home Equity Lines of Credit;”
    • Limitations on Home Equity Plans;
  • The general rules for open-end credit:
    • Account opening disclosures;
    • Periodic statements;
    • Subsequent disclosure requirements;
    • Billing error resolution;
    • Right of rescissions, including Juneteenth issues;
    • Advertising; and
  • Other laws and regulations such as flood insurance requirements and the Real Estate Settlement Procedures Act (Regulation X).

WHO

The program is designed for loan officers, compliance officers, loan support staff, marketing staff, auditors, and any others with responsibilities related to the origination and maintenance of HELOCs.

*This program will start at 2:00 PM EST, 1:00 PM CST, 12:00 PM MST, or 11:00 AM PST

**Recording Included

This webinar will be recorded and sent to all registrants. You will receive links to the recording following the program. These recordings have unlimited viewings and are available for up to one year.

Register by October 21st and take advantage of our Early Bird Pricing!

Presenters:

Jack Holzknecht

Jack Holzknecht is the Founder of and Senior Consultant at Compliance Resource, LLC. He has been delivering the word on lending compliance for 46 years. In 41 years as a trainer over 155,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner.  He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.

Kimberly Boatwright

Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC and has more than a two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC and consumer compliance. During her career she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager and a Certified Anti-Money Laundering Specialist.

 

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Price: $0.00
Start Time: 2:00 pm EST
End Time: 4:00 pm EST
Date:

November 29, 2022

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