FHA Compliance and Enforcement
Over the past several months, the Federal Housing Administration (FHA) has announced plans to increase its enforcement focus. The effects on FHA lenders have been immediate (and often devastating). While in 2008, FHA withdrew the approval of 28 lenders, within the past year, it took such action with respect to more than 350 lenders. The industry has seen marked increase in FHA-related enforcement actions, including Quality Assurance Division (QAD) audits, Credit Watch terminations, Mortgagee Review Board (MRB) and Office of Inspector General (OIG) actions, and related indemnification demands.
Other recent HUD regulations will dramatically increase FHA-approved lenders compliance burden and will expose them to heightened risks. Among the topics to be addressed:
The current enforcement environment at FHA (including the new rule eliminating FHA approval of loan correspondents)
How to increase the likelihood of avoiding HUD inquiries through enhanced ordinary course quality control audits
Effective strategies for responding to HUD inquiries if they occur.
Multi-State Examination Process
While only a handful of multi-state examinations have been conducted thus far, and a few are underway, a more extensive roll-out is expected in the near future. These coordinated licensing reviews will require a more comprehensive pre-exam information request, which requires licensees to devote additional time and resources when responding. The panel will provide information on hot button issues related to the exam process, including:
The multi-state examination process and how it will differ from existing examinations
How to properly prepare for an examination (e.g., single or multi-state exam)
Effective strategies for responding to state examination findings
If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance. Credit totals for other formats are for complete programs. Partial credit is not available for any online or downloadable format.
West LegalEdcenter will not provide accreditation for states not listed.
This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing west.wlec-sales@thomson.com.