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Managing Risk and Non-Traditional Mortgage Products
(Presented by Lucy Griffin)
The whole issue of non-traditional mortgages is hot. So is risk management. The regulatory agencies have just issued final joint guidance on managing the risk of non-traditional mortgages. How does this affect banks? And what, exactly, is a non-traditional mortgage?  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |  |
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If you think you don't make non-traditional mortgages, think again. The definition of non-traditional mortgages in the new guidance includes every dwelling-secured loan that has an interest-only feature or the possibility of negative amortization. This brings many ARM and HELOC loan products under the scope of this guidance.
The guidance is sweeping. It covers safety and soundness, risk management, and compliance regulations. This webinar will give explanations and advice on the guidance's recommendations dealing with:
prudent underwriting based on the borrower's ability to repay - and just what that means in the context of non-traditional loans.
managing risk of these untested products in an untested environment.
providing sufficient information to consumers - in time to make a sound decision.
developing and maintaining policies and procedures to balance the risks and benefits of both lender and borrower.
risks related to making loans through third parties.
Where is your risk? The agencies see risk everywhere. In order to manage risk, you need to know what is expected of you. In this webinar, you'll get answers to these questions:
How should you develop and manage products?
Who should be involved in product development?
Should you develop special underwriting for non-traditional mortgages?
What effect could non-traditional mortgages have on your fair lending program?
What effect to non-traditional mortgages have on your CRA program?
When and how should you monitor and audit these products?
How should you respond to customer concerns - and customer complaints?
The guidance is effective immediately, so don't wait. Bring your key players - including lenders - together for this timely webinar.
About the Speaker:
Lucy is Editor of Compliance Action and President of Compliance Resources, Inc., a company offering compliance support and services to banks. She is also a Senior Associate of Paragon Compliance Group, a company dedicated to providing compliance training. She has more than twenty-five years of experience working with regulatory agencies and financial institutions. Her extensive work experience with regulatory agencies includes the Federal Home Loan Bank Board, the Board of Governors of the Federal Reserve System, and the Federal Trade Commission. As the manager of the Compliance Division of the American Bankers Association, she worked directly with several of the association's banker committees and with regulatory agencies to identify compliance priorities, and to produce resources and programs.
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888.229.8872