Residential Real Estate Loans: Performing a Compliance Audit

Presented by:
Patricia Cashman

This session will focus on the initial disclosures of closed-end residential real estate loans.

To effectively perform a compliance audit of a residential real estate loan, you must be part detective and part mind-reader. A single residential real estate file can be covered by numerous consumer protection laws and regulations - Reg. B (ECOA), Reg. C (HMDA), Reg. Z (TILA), Fair Housing Act, and Flood Disaster Protection Act for starters. The applicability of any law depends on various factors that may, or may not, be evident in the loan file.

You can be a "fault-finder" or become an important part of your institution's risk management plan. An effective audit program can reduce potential liability, in addition to the amount of time examiners will spend in your boardroom. Determining the source of errors and violations can assist your institution in affecting prompt and appropriate corrective action.

Whether you audit by regulation or by function, and whether you are an internal auditor or an outsource vendor, this program will help you to identify deviations from laws, regulations and the institution's policies, document your procedures, and report the findings to management.

This session will assist you in:

• Determining the objectives and scope of the audit;
• Developing or adapting workpapers that adequately document the audit work performed and support the audit reports; and
• Preparation of written conclusion summaries, recommend corrective action and communicate findings to management.

Who should attend? This session is designed for:

• New compliance auditors who want to fully understand the why and how of the residential real estate audit;
• Experienced compliance auditors who wants to revise or refresh their work program;
• Loan department managers who want to know what the auditors and examiners will be testing and how to properly document for compliance issues;
• Compliance officers can use this as a training tool for all residential real estate lending personnel

VIEW A 10 MINUTE SAMPLE
(requires Windows Media Player and IE).

About the speaker: Patricia is a partner in Cashman Compliance Solutions, LLC. She is responsible for consumer compliance reviews, Bank Secrecy Act (BSA) and Anti-Money Laundering reviews, and compliance and BSA training.

Patricia began her banking career in 1969. She has been the senior operations officer for three Dallas-Ft. Worth area community banks, an assistant examiner for the Texas Department of Banking and managed the compliance/internal audit division of TIB - The Independent BankersBank, one of the largest bankers' banks in the country.

Additionally, Patricia has spoken as a webcast/teleconference presenter for the American Bankers Association (ABA), BankersOnline (BOL) and the Center for Financial Training (CFT), taught a variety of compliance subjects for the Texas Bankers Association (TBA) and ABA at their respective Compliance Schools. She also serves as a BOL GURU and been a speaker/trainer for numerous banks and compliance organizations.

• 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.