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Construction to Permanent Lending Under the New CFPB Mortgage Rules (Real Estate Lending Series)

Date: February 13, 2014

Time: 3:00pm - 4:30pm

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For many years, construction/permanent lending has been the primary vehicle for construction lending. The “one-time” closing made it easier for the financial institution and easier for the consumer. Unfortunately, the new CFPB rules make construction/permanent lending problematic at best, and impossible at the worst. Construction-only followed by permanent financing (two closings) is the best way to avoid regulatory problems and improve profitability. That is because construction-only and construction/permanent lending have unique features and are treated differently.

Regulation Z has made dramatic changes to the product offering decision through the Dodd-Frank rules. This webinar will focus on the reasons for doing construction-only loans followed by permanent financing, the financial incentives to do so, and the proper approaches to avoid regulatory issues. Since Regulation Z and Dodd-Frank implications have the greatest impact, the majority of the presentation will focus on those issues. However, the webinar will also include material regarding construction loans and RESPA, as well as the income issues from the standpoint of FASB 91.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Construction/permanent loans and Dodd-Frank points and fees impact
  • Construction/permanent loans and higher-priced mortgage loans
  • The impact of RESPA on construction loans
  • The effect on institutional income
  • The construction-only vs. construction/permanent product decision
  • TAKE-AWAY TOOLKIT
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is designed for staff that make product decisions for your financial institution, as well as all personnel involved in the construction-only or construction/permanent loan process.

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PLEASE NOTE
Webinar content is subject to copyright and intended for your individual credit union’s use only.