Advertising, Amending & More
(90-minute webinar – recording also available)
Tuesday, February 25, 2020
12:00 PM Pacific 1:00 PM Mountain
2:00 PM Central 3:00 PM Eastern
HELOCs are highly regulated and have special rules and disclosures. Learn the ins and outs of required disclosures, advertising restrictions, and properly handling HELOCs from application through end-of-draw.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the specific disclosures required for HELOCs
- Analyze advertising restrictions and the mandatory special wording
- Distinguish when a change-in-terms notice must be sent to the borrower
- Provide the required special notice when a HELOC is reduced, suspended, or terminated
- Determine if a HELOC can be terminated when the borrower moves out or the home’s value significantly declines
- Properly manage HELOCs nearing the end-of-draw period
A home equity line of credit (HELOC) is a special type of loan that is highly regulated. Every aspect of a HELOC has special rules. There are certain disclosures that must be included in the loan documents, distinct wording for advertisements, special limitations on when lenders may decrease or suspend a HELOC, and special timing requirements for disclosures sent prior to maturity. In addition, Regulation Z prohibits lenders from changing any term of a HELOC, except in very limited circumstances.
This webinar will explain the required HELOC disclosures and advertising restrictions. It will explore specific situations when lenders are permitted to decrease, suspend, or terminate a HELOC, and how to do so. You’ll also learn how to handle HELOCs nearing their end-of-draw periods.
WHO SHOULD ATTEND?
This informative session is designed for mortgage loan officers, loan operations personnel, managers, compliance officers, internal auditors, marketing staff, and attorneys.
- HELOC advertising checklist
- Interagency guidance on HELOCs nearing the end-of-draw period
- Interagency guidance on credit risk management for home equity lending
- Employee training log
- Interactive quiz
MEET THE PRESENTER
Elizabeth Fast, JD, CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
Please note: The live webinar option allows you to have one internet connection (from a single computer terminal). You may have as many people as you like listen and watch from your office computer.
THREE REGISTRATION OPTIONS
Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
- LIVE WEBINAR
The live webinar option allows you to have one internet connection from a single computer terminal. You may have as many people as you like listen and watch from your office computer. Registrants receive a website address and passcode that allows entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, passcode, and handouts will be emailed prior to the broadcast. You will need the most current version of Adobe Reader available free at www.adobe.com.
- RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 6 business days after the webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.
The recorded webinar may ONLY be ordered for 6 months following the live webinar. In addition, the download must be completed within 6 months of the live webinar date.
- BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Options 1 and 2 described above.
AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE