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Course description

Financial Institutions have been calculating the total of points and fees for

years to determine whether a transaction is a high-cost mortgage loan (Section

32). Most lenders have few, if any, high-cost mortgages so calculating the

points and fees has not been a high priority.



But now the game

has changed.



The calculation of points and fees is changing. The

calculation is both more important and more complex.



The increased

importance of the calculation is attributable to:

  • The volume of high-cost mortgages is expected to increase as a result of the new calculation and lower thresholds.
  • The number will soon be reported on the HMDA LAR.
  • The number will be used to calculate a fee cap for certain options to verify the borrower's ability-to-repay.

The increased complexity is

attributable to an expansion of the definition of the total of points and fees.

As a result it is not enough to know how to calculate the number; now it is also

important to understand how to manage the number.

WHY?
The calculation of points and fees has never 

been more important or complex. This program explains when and how the

points and fees are calculated and how to manage the number.


Participants receive a detailed manual that serves as a handbook long

after the program is completed.



TOPICS
Upon

completion of this two-hour program, participants understand:

  • What items are included in the calculation of points and fees;
  • What items may be excluded from the calculation;
  • When and how is the total of points and fees is used;
  • How to manage points and fees to avoid fee cap violations under the:
    • "Standard mortgage" rules contained in Section 1026.43(d)(1)(ii);
    • "Qualified mortgage" rules contained in Section 1026.43(e)(2);
    • "Qualified mortgage - Interim Rules" rules contained in Section 1026.43(e)(4)(i);
    • "Small creditor portfolio loan" rules contained in Section 1026.43(e)(5)(i);
    • "Temporary balloon-payment qualified mortgage" rules contained in Section 1026.43(e)(6)(i); and
    • "Balloon-payment qualified mortgage" rules contained in Section 1026.43(f)(1).

WHO SHOULD ATTEND:
The

program is designed for managers, loan originators, loan officers, lending

assistants, compliance officers, auditors and others with responsibilities

related to originating mortgage loans.


Instructor(s)

Mary Beth Guard and Jack Holzknecht

Mary Beth Guard currently serves as Executive Editor of BankersOnline.com, CEO of Glia Group, Inc. and Executive Editor of BankingQuestions.com. Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.Mary Beth Guard currently serves as Executive Editor of BankersOnline.com, CEO of Glia Group, Inc. and Executive Editor of BankingQuestions.com. Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.Mary Beth Guard currently serves as Executive Editor of BankersOnline.com, CEO of Glia Group, Inc. and Executive Editor of BankingQuestions.com. Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.Mary Beth Guard currently serves as Executive Editor of BankersOnline.com, CEO of Glia Group, Inc. and Executive Editor of BankingQuestions.com. Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 39 years. In Jack's 34 years as a trainer over 125,000 bankers (and many examiners) have participated in his live seminars and webinars. Jack's career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by several state bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru."

Course curriculum

  • 1

    Video

    • Calculating Points and Fees
  • 2

    Materials

    • Materials

    • Slides

    • Questions and Answers