David's banking career began as a field examiner for the FDIC in 1990. He later became a Loan Officer for a small bank. In 1993, he established Banker's Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker's Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the Center for Financial Training, the American Bankers Association National Compliance Schools and is a frequent speaker at the ABA's Regulatory Compliance Conference. David is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have 3 adult children (none of whom live at home!) & 3 cats (which Dave is allergic to). They live on a lake in Nebraska and when possible, Dave can be found fishing or in the water. David plays the guitar & piano and enjoys singing with Karen. Together they lead worship at their church.
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Areas of Expertise:
Lending & Operations Compliance Matrices
Organization Health / Culture Consulting & Training
Training the Trainer Materials
Is it possible to charge an appraisal fee on a construction loan and the fee not be a finance charge? If I understand correctly, appraisal fees are excluded from the finance charge if the appraisal is done before closing. However, on a construction loan, an appraisal cannot be done before closing.
Parents cosign for a purchase money mortgage for their son and pledge their residence as additional collateral. Is a separate cosigner's disclosure required? If so, under what regulation?
Is there a 3 day right of rescission on a Home Equity Line of Credit?
On an open end home equity line mortgage, is it necessary to provide an early TIL?
We are doing a 2nd real estate loan secured by the customer's old home being sold AND a new home they are purchasing. (We are also doing the 1st on the new) Does the right to rescind apply to the old residence?
We have a borrower that is frequently past due 30 days or more on her conventional mortgage. In all of the Homeownership Counseling material we've read, we can't seem to determine if the counseling letter is necessary every time the loan is 30 days delinquent or not. Is is like the Right to Cure, where it only needs to be sent once, or should it go out every time?
Recently our bank began verifying tax records and the company being used charges a fee. This fee is paid to a third party and the bank does not retain any portion of the fee. It does not apply to customers whose income is verifiable by W-2 records but does apply to most of our other customers. The question is, should this $19.00 fee be considered as a finance charge under Reg. Z?
Does right of recission apply in rolling a construction loan on a personal residence to permanent financing, no new funds, no new note? I say no. But, if we are advancing additional funds, still under the same note, does ROR apply?
How do you disclose and perform the calculations for APR for a construction loan?
What is the definition of a multifamily dwelling? Do the buildings have to be attached?