Description
50min | Credits: 1 CRCM
Note: The Reg Z Overview course must be taken at least once before any other Reg Z course is attempted.
Describes the characteristics of mortgage loans subject to either the HOEPA or the HPML requirements of Regulation Z. Explains the underwriting standards, timing and disclosure requirements, escrow, and servicing requirements. Discusses the penalties for violations of these sections of Regulation.
Audience: All branch personnel responsible for taking consumer mortgage loan applications.
Learning Objectives
After completing this course, students will be able to:
- Identify the disclosures required and what they include
- Describe the features that are banned from high-rate, high-fee loans
- Examine the impact of laws and regulations that protect consumers against abusive lending practices
- Recognize a HOEPA loan based on the price and type of loan
- Recognize an HPML and understand the additional requirements for HPMLs
- Identify the consequences for not complying with Regulation Z’s HOEPA /HPML rules
Prerequisites: Reg Z Overview
This course is part of the ABA Frontline Compliance program.