New QM Standards Under the Truth in Lending Act Webinar
On December 10th, the Consumer Financial Protection Bureau (CFPB) issued two final rules that make significant changes to Regulation Z’s ability to repay requirements. Enroll to find out more about this important information.
Webinar Description and Intended Audience
On December 10th, the Consumer Financial Protection Bureau (CFPB) issued two final rules that make significant changes to Regulation Z’s ability to repay requirements. With an effective date of July 1st, financial institutions need to start preparing now for these changes. First, the CFPB is changing the requirements for a loan to be classified as a Qualified Mortgage (QM). Going forward, a QM must meet the following four-part test:
- Pricing Test
- Product Test
- Points and Fees Test
- Underwriting Test
Second, the CFPB has established a new category of qualified mortgages, the Seasoned QM. Seasoned QM’s must meet certain product, underwriting and performance requirements.
- QM pricing test (APR v APOR)
- QM product restrictions
- New underwriting standards in place of Appendix Q
- Product limitations for Seasoned QM’s
- Performance requirements for Seasoned QM’s
Who Should Attend?
Loan originators, loan processors, lending managers, compliance professionals and internal auditors would all benefit from the material covered during this webinar.
Webinar Viewing Options
INCLUDES 7 DAYS OF UNLIMITED ONDEMAND PLAYBACK! With this option, you will participate in the webinar live, via the internet. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!
SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it a very effective training tool. The OnDemand Video will be available to you (and anyone else in the company) for six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of any applicable handouts and a CD-ROM (featuring the full-color PowerPoint presentation with audio) via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.