Bio:
Jim Bedsole is the Senior Vice President and Chief Compliance & Risk Officer for BankSouth headquartered on Lake Oconee in Greensboro, GA. Mr. Bedsole has thirty years of experience in managing bank risk, regulatory compliance, auditing,
security, and corporate governance with both regional and community banks. He has a Bachelor of Science degree in Business Administration from The Citadel, The Military College of South Carolina in Charleston, SC. He is also a graduate
of the ABA National Graduate School of Compliance Management. He is a Certified Regulatory Compliance Manager, Certified Bank Auditor, Certified Financial Services Auditor, and Certified AML and Fraud Professional.
Jim is a frequent speaker on the topics of risk management, compliance, consumer protection regulations, auditing, and Internet banking regulation. He is currently the chairman of the Georgia Bankers Association Compliance Committee and the vice chairman of the GBA Compliance School Board. He formerly served as co-chair of the ABA Enterprise Risk Management Working Group for Community Banks and on the ABA Risk Management Forum Advisory Committee. He is a former chairman of the SC Bankers Association Compliance and Regulatory Committee and former chairman of the SC Bankers Association Disaster Recovery Committee. He has served on the faculty of the ABA National Compliance School and the NC School of Banking and is currently on the faculty of the Georgia Bankers Association Bank Compliance School.
He has authored articles appearing in both regional and national publications, including ABA Bank Compliance Magazine, Palmetto Banker and numerous Internet web sites. He is also an active private pilot with an instrument rating.
Areas of Expertise:
Compliance Consulting
Compliance Review
Compliance Seminars
Compliance Training
Risk Management Training
Questions Answered
11/06/2016
We have a borrower taking a loan to buy out his wife's 1/2 interest in their mobile home and land for a community property settlement. The loan will be secured by the mobile home and land. I was considering it a purchase transactions, but since he lives in the mobile home should a three-day rescission right apply?
10/30/2016
Can you direct me to training on Auditing Reverse Mortgage loans. I cannot seem to find anything for auditors or a checklist.
10/30/2016
I have a question about Reg DD, 1030.5: can you include advertisements when sending subsequent disclosures of a new terms and conditions to the customer?
10/30/2016
I keep getting requests from lenders wanting to do an unsecured business loan taking real estate as an abundance of caution. I am fairly new to the bank and I have told them on several occasions that we should not be doing this, but I am getting resistance and the lenders are trying to tell me that the bank has always done this. Can you tell me if there are any situations where it is acceptable to do this?
10/09/2016
My question is about variable rate disclosures and TRID loans. When you have a TRID loan not secured by consumer's principal dwelling and the loan has a variable rate with a term over 12 months, do you provide a loan program disclosure for each variable-rate program in which the consumer expresses an interest, or do you only provide the variable-rate program disclosure when the loan is secured by consumer's principal dwelling? If you do give out the variable-rate program disclosure, and there are two borrowers, do you have to give each borrower a copy of the disclosure if they live at the same address?
09/25/2016
If our procedure is such that the bank prepares the borrower's Closing Disclosure and the settlement agent prepares the Seller's Closing Disclosure, what information, if any, from the Seller's Closing Disclosure does the bank need to include in the Borrower's Closing Disclosure?
08/28/2016
What training is suggested for lenders annually?
08/14/2016
If an appraisal comes in low and causes the loan to have mortgage insurance, the borrowers challenge the appraisal and the results come back the same. The three day time frame for re-disclosing on a new LE to show the MI has passed and now the borrower wants to pay for MI upfront.
Is this a valid reason for a change of circumstance or is it now a cost to cure since the re-disclosures were not sent within three days of the appraisal received?
08/14/2016
Can a Certificate of Deposit be purchased with loan proceeds and that CD be pledged as the collateral?
08/07/2016
We are a small lender. If we have a mortgage that is an HPML, do we have to do full appraisals on every mortgage loan? Typically we do in-house evaluations on RE loans that are $150,000 which are the typical guidelines and order full appraisals when the loan exceeds $250,000.00
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