Regulation Z Compliance Update

Over the past two years, the Federal Reserve Board has made significant changes to Regulation Z pursuant to its authority to implement the Truth-in-Lending Act. Last February, West and attorneys from the law firm of Weiner Brodsky Sidman Kider PC (WBSK) addressed the changing requirements that mortgage industry players were required to follow under Regulation Z.  Just a year has passed, and the Federal Reserve Board has proposed numerous additional changes to Regulation Z, and an onslaught of new regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act is in the works. These changes have transformed a formerly benign disclosure statute into a complicated compliance labyrinth with serious consequences. 

Join West and WBSK for a Regulation Z compliance update of the most recently issued Regulation Z changes and look forward to what we can expect next. Presenters will include Mitch Kider, Managing Partner of WBSK, along with Joe Silvia and Leslie Sowers, WBSK compliance and regulatory attorneys who focus on TILA and RESPA.  As these experienced practitioners examine the issues raised by recent Regulation Z issuances, the impending requirements under Dodd-Frank, and the effect on your business operations, they will cover such topics as:

• Recently delayed August 2009 proposed rules on new initial open-end and closed-end home-secured credit disclosures
• September 2010 published rules:
     o Interim rule regarding changes to the payment schedule of the initial TILA disclosure under the Mortgage Disclosure Improvement Act (MDIA)
     o Final rule on loan originator compensation
     o Final rule on loan transfer notices
     o Proposed new disclosures for reverse mortgages, revised and clarified borrower rescission rights, and loan modification requirements
     o Proposed new escrow requirements for higher-priced “jumbo” loans
• New appraisal rules
• Upcoming Dodd-Frank changes:
     o Combined TILA/RESPA disclosure and other disclosure requirements
     o Ability to repay requirement and qualified mortgages
     o New high-cost mortgage definitions and requirements

Following the webcast, participants will be able to call a special hotline number and speak with a WBSK attorney regarding any related follow-up questions. The hotline will operate weekdays from March 17 through March 31, 2011, from 10:00 a.m. to 5:00 p.m. EDT.

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.