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2021-03 March - Issues to Consider When Modifying Loans

Course Description

With many consumers and businesses in distress due to pandemic and related financial stresses, borrowers are in trouble. As a result, your institution is likely inundated with requests for accommodations or other sorts of assistance to keep from defaulting. But compliance doesn't take a vacation; there are many requirements that must be followed when refinancing or modifying a loan. This discussion will center on those requirements so that you can be certain not to miss anything when changing a loan.

Covered Topics:

  • Why might an existing loan be changed?
  • Disclosures
  • Flood Insurance
  • Appraisals
  • Right of Recission
  • Credit Reporting
  • HMDA, CRA, and Fair Lending
  • "Qualified Mortgage" Changes
  • Bank Secrecy Act Reform
20 Minutes
Series: Directors Education Series
Roles: Board of Directors
Course Format: Webinar
Package: Director Education Webinar Series

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