Presented by:
Lucy Griffin
The whole issue of non-traditional mortgages is hot. So is risk management. The regulatory agencies have just issued final joint guidance on managing the risk of non-traditional mortgages. How does this affect banks? And what, exactly, is a non-traditional mortgage?
If you think you don't make non-traditional mortgages, think again. The definition of non-traditional mortgages in the new guidance includes every dwelling-secured loan that has an interest-only feature or the possibility of negative amortization. This brings many ARM and HELOC loan products under the scope of this guidance.
The guidance is sweeping. It covers safety and soundness, risk management, and compliance regulations. This webinar will give explanations and advice on the guidance's recommendations dealing with:
prudent underwriting based on the borrower's ability to repay - and just what that means in the context of non-traditional loans.
managing risk of these untested products in an untested environment.
providing sufficient information to consumers - in time to make a sound decision.
developing and maintaining policies and procedures to balance the risks and benefits of both lender and borrower.
risks related to making loans through third parties.
Where is your risk? The agencies see risk everywhere. In order to manage risk, you need to know what is expected of you. In this webinar, you'll get answers to these questions:
How should you develop and manage products?
Who should be involved in product development?
Should you develop special underwriting for non-traditional mortgages?
What effect could non-traditional mortgages have on your fair lending program?
What effect to non-traditional mortgages have on your CRA program?
When and how should you monitor and audit these products?
How should you respond to customer concerns - and customer complaints?
The guidance is effective immediately, so don't wait. Bring your key players - including lenders - together for this timely webinar.
VIEW A 10 MINUTE SAMPLE
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About the speaker: Lucy Griffin
Lucy Griffin brings to her clients over twenty-five years of experience working with regulatory agencies and financial institutions. Her extensive work experience with regulatory agencies includes the Federal Home Loan Bank Board, the Board of Governors of the Federal Reserve System, and the Federal Trade Commission. For more than five years, Griffin managed the Compliance Division of the American Bankers Association, managing the Division's activities which included production of compliance resources and programs. Griffin is the editor of Compliance Action and the co-author of the Compliance Accountability Manager. Griffin is also a Senior Advisor with the Paragon Compliance Group, a company dedicated to providing quality compliance training.
Nationally recognized as a leading compliance speaker and trainer, Griffin is on the faculty of ABA's National Compliance School, develops and leads the case study at ABA's National Graduate School of Compliance Management, and is a featured speaker at many national and state compliance conferences and seminars.
Griffin received her B.A. from the University of Michigan, a J. D. from Cornell Law School and is a Certified Regulatory Compliance Manager through the Institute of Certified Bankers and a Certified Risk Professional through the Bank Administration Institute.
- 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.
This product was added to our catalog on Monday 23 October, 2006.
