Event Detail

Event Description

The effective date of the escrow provisions is April 1, 2010.  This webinar covers all of the new Regulation Z escrow rules and the RESPA escrow rules under which escrow accounts must be managed.

The Federal Reserve Board’s final revisions to Regulation Z for Higher-Priced Mortgage Loans were effective October 1, 2009. While all of the revisions are important, the requirement that all lenders must escrow taxes and insurance on certain loans place a significant burden on institutions that do not currently escrow and those that only require escrows on loans sold in the secondary market and therefore do not have any experience managing escrow accounts. The effective date of the escrow provisions is April 1, 2010.  This two-hour webinar covers all of the new Regulation Z escrow rules and the RESPA escrow rules under which escrow accounts must be managed.

Why Participate?
This program is designed to explain the new escrow rules from Regulation Z and existing RESPA escrow rules. We will explain, step-by-step, how to establish and maintain escrow accounts. Program participants receive a detailed manual that provides a thorough explanation of both the new Regulation Z rules and the existing RESPA rules.

Highlights
Upon completion of the program participants will understand:
• The category of loans for which escrows are required;
• The limitations on the amount of the required escrow payments at origination and over the life of the loan;
• How to conduct an escrow analysis;
• Determining the escrow account computation year;
• Determining the amount of the allowed cushion;
• Preparing the initial escrow account disclosure statement;
• Preparing the annual escrow account statement;
• Resolving a surplus, a deficiency or a shortage;
• The recordkeeping rules for escrow accounts; and
• The penalties for the failure to submit an initial or annual escrow account statement.

Speaker
Jack Holzknecht, a principal with Pegasus Educational Services, LLC, has provided training to thousands of bankers and examiners for 27 years. Jack’s career began as a federal bank examiner.  He also headed the form and software division of a regional consulting company and headed their education division for 7 years. Jack has been an instructor at compliance schools presented by the Kentucky, Pennsylvania, New York and Texas bankers associations. He also developed and delivered training for the FDIC and OTS.

Audience
The program is designed for compliance officers, mortgage loan officers, loan originators and others involved in mortgage lending. 
CE Applied: 2.5 hours CRCM/CPB/CLBB/CCSR with the ICB
 

Instructions

What is a Webinar?
A webinar is an enhanced telephone seminar. The audio portion of the program is delivered by speaker phone. You may also view a corresponding PowerPoint presentation using a PC. No special hardware is needed. You may still participate by phone only. The program consists of 90 minutes instruction and 30 minutes live Q&A. Each webinar registration provides 1 connection to the live webinar, written materials and access to the Webinar Archive for 30 days following the broadcast. You may have unlimited listeners on your connection by speaker phone and PC. You will receive a PIN, written materials and instructions prior to the seminar.  If you do not receive a confirmation at least 2 days prior to the event call 888-262-7701.

What is an On-Demand Webinar?
An On-Demand Webinar is a live webinar that has been recorded and then streamed to your computer to watch at your convenience. The program can be viewed any time 24/7. You can watch a portion of the program, come back and pick up where you left off! You may also review the program at will if you need a refresher. Anyone at your branch may access the program from a computer using the login and password. When you purchase a webinar archive, you have unlimited access to the program for six months from the date of purchase.

Transmission, retransmission or republishing of the audio portion of the seminar is prohibited. Your registration entitles you to 1 connection at 1 location with permission to copy materials for participants. Complete one registration per location.

Webinar (02/18/10 1:30 - 3:30 p.m.)

Information & Registration form (pdf file)

Online Registration