This is a 90-minute webinar.
10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Notice the notice requirements for denied loans – or risk a mistake, noncompliance, or worse. Loan denial decisions are fertile ground for errors. This webinar will plow through the knowledge, tips, and tools you need to avoid loan denial mistakes!
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- Explain the requirements for an incomplete or withdrawn application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
- Use a worksheet to document a second review of adverse action notices, for fair lending purposes
- Prepare counteroffers
- Comply with Reg B’s timing requirements for loan denials
- Identify when the FACT Act requirements are required for denial notices
It’s a bummer for the wannabe borrower (and you). A loan denial triggers regulatory notice requirements under Regulation B. Depending on the reason for denial, Fair Credit Reporting Act notices may also be mandated. Examiners have long identified weaknesses in loan applications that never yield an originated loan. 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 on how 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 this deep dive and learn what you need to know to avoid loan denial mistakes!
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session will benefit all loan officers, loan processors responsible for denials and/or second review, compliance officers, and auditors.
- Application trigger chart detailed by regulation
- Second review checklist of adverse action notices
- Cheat sheet explaining what each denial reason on the notice means and which to use in different scenarios
- Employee training log
- Interactive quiz
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NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.