Order Online: |
||
| CD only: | $299.00 |  |
| Date: | Tuesday, August 26, 2008 |
| Time:* | 1:00 PM – 2:30 PM ET |
| Featured Speaker: | Jonathan D. Jerison |
| Duration: | 90 Minutes |
| Location: | Your office or conference room |
| Prerequisites: | None |
If your area does NOT observe Daylight Saving Time, the time will be one hour earlier.
Legal and regulatory implications for reducing or freezing HELOCs to protect your institution from monetary losses
Due to the snowball effect of the housing crisis, many lenders are now focused on HELOCs as the next wave of high risk credit. As a result, many institutions are implementing a program of reducing or freezing the HELOC of their borrowers. The FDIC issued warnings in response to this growing trend, reminding lenders of legal requirements that protect borrowers.
If your institution decides to take this route, make sure you conduct your due diligence and remain in compliance with the laws and regulations surrounding HELOC. Failure to do so can result in fines and even possibly a class action lawsuit against your institution.
Join this “can’t miss” audio conference as attorney Jonathan D. Jerison thoroughly reviews the legal and regulatory implications of managing HELOCs in today’s volatile environment.
The audio conference will address the following topics:
- When you are required to reduce or suspend lines of credit actively manage your home-equity portfolios
- How you can safely reduce or suspend lines of credit for substantial declines in value-Do we need to do a new appraisal?
- Can we use automated value models or broker price opinions?
- Can we use area-wide statistics?
- How you can reasonably believe that the consumer will default
- Can we use FICO scores by themselves?
- Does it help to have an appeals process?
- Impact of Other Laws such as Fair Lending, Fair Credit Reporting Act, Equal Credit Opportunity Act Adverse Action and Unfair and Deceptive Acts or Practices (UDAP) considerations
- How FDIC Guidance can make it both easier and harder to manage HELOCs
- Litigation Exposure such as class action suits and actual damages in individual actions
Registration Includes:
- Admittance to the 90-minute call for as many people as you can fit in a room with a speakerphone
- Access to the specially created presentation handouts (made available 48 hours in advance) which can be printed and used
- Participation in a 30-minute live Q&A with the speaker following the presentation
- Certificates of completion for all audio conference attendees
About Our Speaker
Jonathan D. Jerison provides regulatory, legislative and transactional advice to lenders and servicers. He counsels financial institutions and their affiliates on complying with federal and state consumer protection laws and regulations; including providing general regulatory advice, providing advice on fair lending issues, reviewing consumer disclosures, drafting legislative or regulatory language or advocacy papers, and advising on electronic commerce matters. Mr. Jerison holds a J.D. degree from the University of California School of Law, an M.L.T. from Georgetown University, and a B.A. from Yale University. Jon is a frequent speaker at financial industry conferences and seminars.
222 Rosewood Drive
Danvers, MA 01923
1-800-772-3350 - Phone in your requests
1-978- 646-8600 - Fax in your requests
info@copyright.com – Email your requests