Applicants and Applications - Knowing the Players and the Rules

Presented by:
David Dickinson

What?
Join BOL Guru David Dickinson to learn the rules of loan applications. The term "application" is something many of us think we understand; however, there are many misconceptions. This is often an area where we really don't understand it as well as we should.

The application process will be explained step by step with real life examples. You will learn the answers to the following questions and many more:

What is considered a loan application?

When does an inquiry become an application?

What is a prequalification?

If I have a prequalification request, do I have to do anything?

What is a preapproval?

If I have a preapproval request, do I have to do anything?

Must an application be in writing?

What about applications not received in person?

Must applications be signed?

Can I require a spouse or someone else to sign?

When can I require someone to guaranty or co-sign a loan?

What's the difference between a co-signer, a co-applicant and a co-borrower?

When do applications trigger Truth in Lending and RESPA disclosures?

When is an Adverse Action Notice needed?

What is a HMDA preapproval? Why? Many experts in the compliance industry and regulators are predicting the next hot issue will be fair lending because of the way HMDA reports are being interpreted. This touches the loan department, compliance and audit staff, CRA and more. Your staff needs to fully understand the application process. If you don't understand the implications of each of these issues, you have increased your risk of criticism and may incur a violation of law citation and even a referral to the Department of Justice for a discriminatory practice. You can't afford to assume new lenders, or even the seasoned ones, understand today's rules and requirements. Protect yourself by getting the information you need to understand the application process. A note from the Presenter - David Dickinson: "I believe this is one of the most important compliance topics I have ever presented. BEFORE you can understand HMDA, Truth in Lending, RESPA, denials, etc. you MUST know if you have an application or not. Lenders must also fully understand the difference between an inquiry, an application, a prequalification request and a completed application. Most lenders think they understand these topics but the proof is in the errors they commit. I think this may be a very valuable tool for you and your institution." Who: This webinar will be designed for senior management, compliance officers, auditors, lenders, loan processors and loan operations personnel.

About the speaker:
David Dickinson

David is a highly trained expert in compliance regulations. He is also a motivational speaker and innovative educator. As a qualified speaker on compliance issues, David speaks for the American Bankers Association's National Compliance School, as well as, several State Banking Associations. He conducts various seminars throughout the year, has developed numerous compliance manuals and has written articles for prestigious banking publications. In 1993, He established the firm of Banker's Compliance Consulting.



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