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Reg Z: How Will the Recent Changes Affect Your Institution? What Other Regulatory Issues Loom in the Horizon?
ABA Telephone Briefing*
This recording of the two-hour, live telephone briefing held on June 30 provides you with a comprehensive overview of the significant changes to Reg Z which were approved by the Federal Reserve Board on May 8. These regulatory amendments will revise the disclosure requirements for mortgage loans under Regulation Z and will become effective on July 30, 2009. This recording also includes a roundup of other pending regulatory issues affecting mortgage lending, and provide an overview of the increasing consumer claims against financial institutions.
The Federal Reserve Board recently approved regulations that finalize regulations to implement legislative changes enacted under the Housing and Economic Recovery Act of 2008. These amendments to TILA, known as the Mortgage Disclosure Improvement Act of 2008 (MDIA), require creditors to make early disclosures no later than three business days after receiving a consumer's application for a dwelling-secured, closed-end loan, and ensure that consummation occurs only on or after the seventh business day following the delivery or mailing of these disclosures. The new rules set forth redisclosure requirements based on tolerances for accuracy, and creditors must provide consumers with corrections to be received on or before the third business day prior to consummation of the transaction.
| Program Date |
Audio Recording Now Available |
| Per CD Fees** |
$255 ABA/Service Member • $385 Non-Member |
| Registration |
Not Applicable |
| Audio CD |
Order Online (PDF) |
| Credits |
Audio recording approved for 2.50 CLBB & CRCM credits.
The Institute of Certified Bankers (ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. |
The program will also offer a quick summary of other regulatory developments affecting mortgage lending issues under RESPA and HOEPA. Finally, the briefing will feature experts who will discuss the increasing number of lawsuits and advocacy actions that appear to be designed to delay the foreclosure process or to leverage favorable loan modifications.
The new rules are complex, so register today and get your questions answered by the experts.
Topics will Include
- Disclosure requirements for mortgage-related transactions
- Summary of regulatory changes not addressed in this rulemaking
- Effective dates
- Common claims against banks and financial institutions.
Speakers
- Rod Alba, Vice President and Senior Regulatory Counsel, Office of Mortgage Finance, American Bankers Association, Washington, DC (Moderator)
- Kristie D. Kully, Of Counsel, KL Gates, Washington, DC
- Sunny S. Huo, Member, Severson & Werson, San Francisco, CA
Who Should Attend
- Mortgage Lenders
- Compliance Officers and Managers
- Risk Managers and Auditors
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- Bank Counsel
- Senior Bank Management
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*ABA's Telephone Briefings include reference materials and telephone audio. Telephone/Webcast Briefings include reference materials, telephone audio, and simultaneous webcast presentation (requires 56K or faster with JavaScript and cookies enabled in the browser, i.e., Microsoft Internet Explorer 4.0 or later, or Netscape 4.7X).
**Each site license (registration fee) entitles you to one phone connection and one Internet connection (when there is a simultaneous webcast presentation) where an unlimited number of listeners can participate.
Any transmission, retransmission or republishing of the audio or Web portions of this briefing is strictly prohibited.
Questions? Please contact Joe Mach / Linda Shepard / Cari Hearn for more information.
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