Outline
- Department of Housing and Urban Development Act
- HUD’s Mission
- Federal Housing Administration
- Truth in Lending Act (TILA) Reg ‘Z’
- Disclosures
- Annual Percentage Rate (APR)
- Loan Estimate (LE)
- Finance Charges
- Tolerances
- Right of Rescission
- Advertising
- Required Disclosures
- Mortgage Disclosure Improvement Act Amendments
- Fair Credit Reporting Act (FCRA)
- Consumer Rights
- Consumer Reporting Agency Obligations
- Bank Secrecy Act/ Anti-Money Laundering
- Financial Institutions
- Suspicious Activity Reports (SARS)
- Real Estate Settlement Procedures Act (RESPA)
- Covered Transactions
- RESPA Provisions
- Required Disclosures
- Loan Estimate (LE)
- Closing Disclosure (CD)
Learning Objectives
- Understand the purpose of the Truth in Lending Act and to identify the disclosures, requirements, and penalties.
- Understand the regulator, or governing body, for the Truth in Lending Act.
- Understand the record retention requirements for the Truth in Lending Act.
- Understand which regulation implements the Truth in Lending Act.
- Understand the amendments of the Truth in Lending Act. Regulation Z
- Know what Disclosure Statements are required in a loan transaction
- Understand the purpose of Regulations X
- Understand what types of loans RESPA applies to.
- Understand the timing of the disclosures.
- Understand Sections 6, 8, 9, and 10 of RESPA.
- Loan Estimate
- Guide to Settlement Costs
- Settlement Service Provider
- Understand loan-servicing requirements.
- Understand complaint resolution procedures.
- Understand the penalties imposed under Regulation X.
- Understand an Affiliated Business Arrangement (AfBa)
Teaching Methods:
Power Points, Video PowerPoint Presentation and Optional Quiz
Course Features
- Lectures 1
- Quizzes 1
- Duration 1 hour
- Skill level All levels
- Language English
- Students 10
- Assessments Yes