|The Consumer Financial Protection Bureau was established as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFPB has since made significant changes to mortgage lending regulations in an effort to protect consumers through the supervision of financial institutions. Mortgage University is now offering CFPB 2014 - "New Rules Defined", which is a straight-forward, comprehensive class to help you navigate and understand these critical changes. Need Help? Call us at 1-800-665-0249 to speak with an enrollment counselor.
- A brief history of the Dodd-Frank Act
- Summary and definition of the following regulations: ECOA, RESPA, and TILA
- An in-depth explanation of how the CFPB has revised ECOA, RESPA, and TILA including:
- Loan originator compensation
- Disclosure and Delivery of Valuations and Appraisals
- Escrow rules
- Appraisals for Higher Priced Mortgage Loans (HPML)
- Definition and explanation of Qualified Mortgage and Ability to Repay Rules
- Definition and explanation of the Home Ownership and Equity Protection Act (HOEPA)
- How will these changes affect underwriting and origination?
- How have Fannie Mae and Freddie Mac revised their AUS in response to the CFPB's rules?
- Resources for additional information and updates
Ms. Frankie Lacy is a NAMU®-CMMU and a 13-year mortgage industry veteran with extensive conventional mortgage underwriting experience. Topics of Frankie's expertise include: Fannie Mae, Freddie Mac, USDA Rural Housing, underwriting to investor overlays, self-employed borrowers, personal and business tax return analysis, rental income, condos/co-ops/PUDs, and more. Frankie is a Davenport University graduate with a degree in Business Administration.
How The Class Works
Upon successful course completion, you will be emailed your Certificate of Completion within 5-7 business days.
- You need a Computer, Internet Connection (DSL speed or higher), and Computer Speakers.
- Each day of class you will be emailed an invite with your log-in/password. From here, you can click the link, enter your password, and download/print that day's course materials. Finally, you'll be able to log into the class up to 1/2 hour before the class start time.
- Once the class starts, you will hear the instructor speak through your computer speakers. You will also have the ability to ask questions through the online chat feature located on the right-hand side of our online training platform. We encourage you to ask LOTS OF QUESTIONS!
A written notice MUST be given at least 30 BUSINESS DAYS prior to the ORIGINAL class start date to receive a refund (MINUS a $75 cancellation fee PER class). However, if you have registered for a class that starts sooner than 30 days, then NO refund will be given. Also, NO refunds will be provided for classes purchased as part of a special offer, bundled package or group discount rate.
In addition, NO refunds will be provided once a class has started, so if you cannot attend for any reason, we will simply reschedule you for a later date. Note: if you're not able to meet our system requirements (computer &internet connection), we suggest re-taking the class on a different computer because we will NOT issue a refund.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand version, as shown in the pricing options below.