This is a 90-minute webinar.
9:00 am – 10:30 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
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- Explain the requirements for an incomplete or withdrawn application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
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the requirements of Regulation B and the Fair Credit Reporting Act when a loan application is denied, incomplete, or withdrawn.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session would best suit loan officers, loan processors responsible for denials or second reviews, compliance officers, and auditors.
- 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
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.