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The Loan
Officer's Practical Guide to Compliance - 2009 Version
ISBN 0-9718205-4-6
This product has been
combined with the Loan Officer's Practical Guide to Residential
Finance - SAFE Act Version to provide the reader/student with a
complete overview of federal mortgage laws and general industry
knowledge that makes up the NMLS Originator Examination (test
material) as well as providing critical mortgage skills for success.
Background
For the new loan officer, the first
introduction to training he or she receives is a battery of regulatory
compliance training. While this is not on the job, vocational
training, knowledge of how regulations require the loan officer to
conduct his or her job can aid the loan officer in developing rapport
with a customer and help close more loans.
The reader learns the requirements of the
Federal Laws - who the regulators are and the impetus of the laws. This
is followed with a detailed treatment of the Real Estate Settlement Procedures
Act (RESPA), Truth-in-Lending (TILA), Federal Consumer Protection Laws like
the Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA) and
Federal Privacy Acts (Gramm-Leach-Bliley), Home Mortgage Disclosure Act and
others. Many compliance books are written from the perspective of a
lawyer, providing citations and case law. This book is written in plain
English from the perspective of the loan officer's daily business - the forms
and disclosures, how they are completed, what they mean, and the practical
applications of the law in daily life.
In
addition, sections on Understanding Mortgage Fraud, Understanding Predatory
Lending and Understanding Ethics take the same plain English, practical
approach. Each identifies the practices and how they may appear in
day-to-day lending. Most importantly, the lessons are plain in how to
avoid becoming involved in even the appearance of impropriety.
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Up
The Loan Officer's Practical Guide to Residential Finance
The Practical Guide to Loan Processing
The Loan Officer's Practical Guide to Marketing w/ Tools
The Loan Officer's Practical Guide to Compliance
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