Complying with the S.A.F.E. Act: New FINAL Rules

Presented by Jack Holzknecht and Mary Beth Guard

Fingerprinting. Background checks. New policies and procedures. Registration in a central database. All these and more are mandatory components of a new federal law and upcoming rules affecting those who are engaged in residential mortgage lending.

Interagency rules to implement the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) are being handed down by the financial institution regulators. Under the law and implementing regulations, financial institution employees who act as residential mortgage loan originators will need to register with a new nationwide registry, unless they fall within the de minimis exception. Financial institutions themselves are required to adopt and follow written policies and procedures to assure compliance with the new requirements.

There is a great deal of work to be done before registration begins. In this webinar, Jack and Mary Beth will familiarize you with the specifics of the S.A.F.E. Act and the steps you must start taking to ensure you will be in compliance.

You will learn:

The purpose and goals behind the new requirements;

Which individuals must be licensed, and which must be registered;

What type of policy and procedures are required and the fundamental components of them;

What the fingerprinting and data submission requirements are;

What the de minimis exception covers;

All about annual registration renewals;

Requirements for annual independent testing for compliance.

Who should attend: compliance officers, HR personnel, lenders, and management of financial institutions and mortgage lending subsidiaries of financial institutions.



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CD-ROM includes:

• Complete presentation (including slides and audio)
• Written Materials
• Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

About the Speakers:
Jack Holzknecht is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-four years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company. In that capacity he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by the Georgia, Iowa, Kentucky, Pennsylvania, Nebraska, New York and Texas bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru" at http://www.bankersonline.com/ and frequently answers compliance questions sent to "Bankers' Threads."

Mary Beth Guard currently serves as Executive Editor of BankersOnline.com and CEO of Glia Group, Inc., Mary Beth has had a long and distinguished career, graduating from law school in 1980. She has focused her work exclusively on the banking industry since 1984. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline and Compliance Action, as well as on the editorial board for ABA Bank Compliance magazine. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.