B2B: Requirements for Loan Refinancing, Modifications, Renewals, and More

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CE Credits: 1.25 CRCM

One of the most common questions we receive on Hotline is whether a change to a loan is considered a refinancing, modification, renewal, or something else. Accompanying that question are often, “Well, what’s next? Are we prohibited from making certain changes? What disclosures are required? Does this affect our HMDA and CRA reporting?” During this webinar, we’ll review the most common scenarios we hear from our members, as well as the applicable requirements for each.

Key Takeaways:
1. What is a refinance, modification, renewal, or other change?
2. What requirements apply to each of these changes?
3. Are banks prohibited from making certain changes, e.g., HELOCs?
4. What disclosure requirements are triggered?
5. How do banks ensure the HMDA and CRA reports are appropriately updated?

People who should attend:

Compliance Officers and other relevant compliance team members, mortgage lending officers and staff, mortgage operations, and internal audit.

Presenter:  Carol Ann Warren, JD
Associate General Counsel

Carol Ann Warren serves as Associate General Counsel for Compliance Alliance. She graduated cum laude from Mississippi College with a Bachelor of Finance. She earned a Juris Doctorate and a Master of Business Administration through a joint degree program at Mississippi College School of Law and Mississippi College. During law school, she received Best Paper Awards for Securities Regulation and Electronically Stored Information. She is one of our featured authors on the B/A ACCESS magazine and for other publications.
After graduation, Carol Ann worked as an attorney for the Mississippi Insurance Department, where she began her passion for helping others navigate through the regulatory environment. She has a diverse educational and experiential background in business management, business law, securities, and insurance. Carol Ann is a licensed attorney in Mississippi, Tennessee, and Texas.