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Loan Modifications: What Are the Compliance Issues?

This webinar will deal with the ins and outs of making changes to loans of all types. We’ll discuss the compliance and legal requirements, operational challenges, and impacts to borrowers, guarantors, and other parties to the loan. We’ll also deal with the threshold question: Should the lender grant the borrower’s request in the first place, and if so, what accommodations or changes should be made?

OnDemand
Recorded Monday,
June 24th, 2024
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • Lending
  • Lending Compliance
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Commercial Lender
  • Compliance Officer
  • Customer Service Representative
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • Senior Management
  • Training Manager

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Almost every lender has had distressed borrowers that need help. What type of help should you provide? And when you make that decision, what compliance implications are involved? Making changes to existing loans is a challenging endeavor. Lenders are facing unprecedented requests to make changes to loans of all types – mortgages, credit cards, consumer loans, small business loans, and so forth. What are the critical compliance implications when dealing with these requests? What types of disclosures must be provided, if any? Must new appraisals be obtained (and how do we do that if appraisers can’t do on-site work?) Must rescission rights be provided? This webinar provides a comprehensive look at the regulations and issues related to making changes to loans of all types.

What You'll Learn

  • Disclosure requirements, if any
  • Appraisal requirements
  • Flood insurance
  • Tax implications
  • Defaults and special requirements in place
  • Troubled Debt Restructuring (TDR) issues
  • Fair lending implications
  • Handling borrower requests and complaints
  • Dealing with government-backed loans – new pronouncements
  • HMDA and CRA reporting
  • Consumer, mortgage, and commercial loan issues
  • BSA issues, including beneficial owner requirements
  • E-SIGN and Remote Online Notarization (RON)

Who Should Attend

This webinar is intended to anyone involved in the lending process, including loan officers, processors, closing agents, servicing professionals, compliance officers, auditors, customer service representatives, and senior management.

Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Advisor for Asurity Advisors in Washington, DC. Through his more than 30-year working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves as the Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Continuing Education Credit Information

Loan Modifications: What Are the Compliance Issues? has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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