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Making certain that your residential mortgage lending staff understands and complies with a variety of changing state and federal regulations is essential to the effective mortgage operations of your institution. Noncompliance can be costly in fines, legal fees, and loss of reputation.
This manual and CD set provide your staff with the guidance and analysis they need for every part of your operation. The manual is a template you can follow to create your own compliance manual. It covers state and federal requirements that apply to mortgage lending, and includes many sample documents.
The CD lets you quickly customize everything for your operation, and even create department-specific compliance manuals. It explains the state and federal requirements, points out what applies to depository institutions only, and helps you get the timing right on required disclosures, use the right forms, make sure APR is properly represented in your advertising, and keep up as RESPA, Truth in Lending, HMDA, and the other regulations continue to change. The manual and CD also provide a wide array of sample materials, including:
James H. Pannabecker writes from Natural Bridge Station, Virginia, focusing on banking law and regulatory compliance. He was formerly a senior vice president and general counsel of Citicorp Mortgage, Inc., where he managed the provision of legal services for the nationwide origination of mortgage loans through Citicorp’s affiliated first mortgage lenders. Before joining Citicorp, Mr. Pannabecker served as in-house counsel to Maryland National Bank; First Virginia Banks, Inc.; and First American Mortgage. He graduated from the University of North Carolina School of Law in 1978 and has been admitted to practice law in the District of Columbia, Georgia, Maryland, Missouri, North Carolina, and Virginia. See all works by Mr. Pannabecker