Part II: The CFPB's Latest Mortgage Proposals and the Impact on Your Credit Union

On-Demand Webcast: Available until November 7, 2013

Note: No longer available for purchase. Check out the CFPB Mortgage Reform Webcast Series for up-to-date information.

Open to all credit unions, regardless of membership or charter type!

The Consumer Financial Protection Bureau (CFPB) is proposing revisions to the mortgage loan origination and appraisal processes that could have a significant impact on your credit union.  During this webcast, NAFCU’s Compliance Team will provide an overview of three recent mortgage loan proposals:

• Mortgage loan originator compensation
• “Higher-risk mortgage loan” appraisal
• Proposed changes to Regulation B that would require free appraisal copies to members

Since Dodd-Frank requires the CFPB to finalize these rules by January 21, 2013, it is extremely important that you gain an understanding of the proposals and how they will impact your current mortgage lending practices.

By attending this webcast, participants will walk away with:

• An overview of the CFPB’s mortgage loan originator proposal; the joint agency proposal on appraisals for “higher-risk mortgage loans”; and the CFPB’s Regulation B appraisal proposal
• A review of the CFPB’s proposed “zero-zero alternative” which would require credit unions to offer a no-point, no-fee mortgage loan to members
• An understanding of how the mortgage loan originator proposal relates to the SAFE Act requirements – including the use of unique identifiers by mortgage loan originators (MLOs)
• An overview of the parameters for the proposed “higher-risk mortgage loan” category and the new appraisal requirements for these loans
• A discussion of the CFPB’s proposal to remove the credit union exemption from Regulation B and what this means for credit unions 

Sneak Peek:  For a sample of the issues to be discussed, check out these recent NAFCU Compliance Blog Posts:  Mortgage Loan Origination – Part 1; Mortgage Loan Origination – Part 2; Higher-Risk Appraisal Proposal; Regulation B Appraisal Proposal. 

NOTE: During the November 7 webcast, NAFCU’s Compliance Team will cover three different proposals than the ones reviewed in the recent NAFCU Webcast, “Inside the CFPB’s Mortgage Proposals,” which was held on September 5, 2012.  During the September 5 webcast, the TILA/RESPA, High-Cost mortgages, and Mortgage Servicing proposals were covered.  Click here if you would like to purchase an on-demand version of that webcast.

Industry Leading Speakers:

Steven Van Beek, Esq., NCCO
Director of Regulatory Compliance, NAFCU
Steve is responsible for all aspects of NAFCU's compliance assistance program and compliance-related products and services. He previously served as regulatory compliance counsel at NAFCU, where he assisted credit unions with a variety of compliance issues, addressed regulatory topics at NAFCU events and authored compliance articles for NAFCU publications, including the popular NAFCU Compliance Blog. Prior to that, Van Beek joined NAFCU as an intern with the regulatory compliance and regulatory affairs divisions. 

Michael Coleman, Esq., NCCO
Regulatory Compliance Counsel, NAFCU
Mike Coleman is a Regulatory Compliance Counsel at NAFCU. His main responsibilities include assisting with NAFCU member compliance issues, writing articles for NAFCU publications, as well as drafting blog posts for the NAFCU Compliance Blog. Prior to joining NAFCU, Coleman worked as legal counsel and tax advisor for the Federated States of Micronesia Department of Finance and Administration. 

Bernadette Clair, Esq., NCCO, CAMS
Regulatory Compliance Counsel, NAFCU
Bernadette Clair is Regulatory Compliance Counsel at NAFCU. Clair assists credit unions with a variety of compliance issues, authors compliance articles for NAFCU publications such as the Compliance Monitor and NAFCU Compliance Blog and addresses regulatory topics at NAFCU events. Prior to joining NAFCU, she was a compliance specialist and BSA & regulatory compliance manager at Congressional Federal Credit Union.

Credit union staff that will benefit from this webcast include:

• CEO and presidents
• C-level staff
• Vice presidents
• Compliance, legal, attorney and risk staff
• Lending and loan officers and mortgage and real estate officers
• Underwriters
• HR and training staff
• NAFCU Certified Compliance Officers

NAFCU's webcasts include live streaming video and audio of the presenters along with presentation slides and downloadable handouts.  You can easily submit your questions to the presenters at any time and there is no dialing in over the phone!  The audio and video stream directly through your computer

Registration Fees

On-Demand webcasts are available for up to 12 months after the live broadcast and are included in the registration fee.

Broadcast live from NAFCU's Headquarters in Arlington, VA.