ComplianceOnline

Adjustable Rate Mortgage (ARM) Rule

Instructor: Craig M Taggart
Product ID: 704514
Training Level: Intermediate
  • 22
  • December 2016
    Thursday
  • 10:00 AM PST | 01:00 PM EST
    Duration: 90 Min

Live Online Training
December 22, Thursday 10:00 AM PST | 01:00 PM EST
Duration: 90 Min

$199.00
One Dial-in One Attendee
$499.00
Group-Max. 10 Attendees/Location
(For multiple locations contact Customer Care)

recorded version

$249.00
1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section 48 hrs after completion of Live training

Training CD

$399.00
One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days after completion of Live training

Customer Care

Fax: +1-650-963-2556

Email: customercare@complianceonline.com

Read Frequently Asked Questions

This ARM training program will discuss the definition of “rural and underserved.” It will also discuss how that impacts your institution and considerations to be taken into account when establishing an ARM program. Attendees will gain an understanding of the documents needed to make an ARM program work.


"Adjustable Rate Mortgage (ARM) Rule" - This course is approved by NASBA (National Association of State Boards of Accountancy). Attendees of Live Webinar are eligible for 1.8 CPE credit up on full completion of the course.

Why Should You Attend:

Do you know how to complete an ARM loan? If you don’t, will you have to learn? Both of these questions will be answered during this webinar. Recently the CFPB has changed the definition of “rural and underserved” yet again. As part of that change, many financial institutions that have been able to do balloon loans will not be able to as of April 1, 2016.

The first portion of the webinar will discuss this issue – which financial institutions can do balloons, and which will have to walk away from them on April 1, 2016. The second portion, and the chief section of the presentation, will be devoted to the management and compliance requirements of ARM loans. While they have a reputation of being cumbersome, proper management of the process makes ARM loans much less trouble than their reputation indicates. The presentation will provide the tools and knowledge needed to make ARM loans a reality in your institution.

Learning Objectives:

  • What is the definition of “rural and underserved” now?
  • How does that impact your institution?
  • What should be considered when establishing an ARM program?
  • What documents are needed to make an ARM program work?
  • Ongoing management of an ARM program

Areas Covered in the Webinar:

  • Resources regarding the various indices that may be used for ARM lending
  • Checklists to ensure that all ARM documents are complete
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key
  • Fair Debt Collection Practices Act (FDCPA) rules
  • ARM (adjustable rate mortgage) change notification requirements

Who Will Benefit:

  • Lending management
  • Loan operations
  • Lenders
  • Professionals participating in ARM lending
  • Bank and financial institution auditors
  • Controllers and corporate managers
  • Forensic and management accountants
  • Accounts payable and financial analysts
  • Governance, risk management and compliance officers
  • Internal and external auditors
  • CPAs and CAs
  • Certified Fraud Examiners and other anti-fraud professionals
  • Financial services professionals
  • Securities attorneys
  • Wall Street
  • Board members
  • Staff members who are currently working with ARM loans
  • Anybody working to establish an ARM program
Instructor Profile:
Craig M Taggart

Craig M Taggart
Managing Director, BCC Capital Partners

Craig Taggart has almost a decade of experience in the fields of mergers and acquisitions and business financing. Mr. Taggart works strategically with his clients to achieve the highest value for their business within the capital markets. His experience with BCC Capital Partners in the M&A industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in a number of different industries and has significant experience working with companies in: continuing education, transportation, software and professional services. Mr. Taggart is currently working in the clean energy sector that covers multiple initiatives within M&A and corporate development.

He is a certified merger and acquisition advisor, accredited valuation analyst as well as an active member of Alliance of Mergers and Acquisition, and The National Association of Certified Valuators and Analysts (NACVA). His knowledge and expertise also extends to systems such as: Software as a Service (SaaS), and ERP and CRM systems (Netsuite, Salesforce, Sage 100, 500, X3 ERP). Mr. Taggart has been a certified fraud examiner since 2011 and has previously worked at Deloitte with their quality risk management team.

He earned his MBA from the San Diego State University specializing in financial management. Mr. Taggart graduated from the California State University Northridge with a bachelor’s degree majoring in organizational psychology.

Topic Background:

Adjustable-rate mortgages, one of the main culprits of the housing crisis, are back in vogue. But banks say this time is different.

Financial groups are sweetening terms to entice customers to take out these loans, known as ARMs, whose rates can jump after a few years. Some ARMs are cheaper, when compared with fixed-rate mortgages, than they have been in more than a decade. The tactics are reminiscent of the period before the 2008 crisis, when ARMs exploded in popularity as banks and mortgage brokers touted their low initial rates to consumers. Now, though, financial executives say they are focusing on borrowers with strong credit who are using the loans to take out large "jumbo" mortgages—and not so-called subprime borrowers, who used the loans to stretch their buying power as far as it could go. ARMs comprised 31% of mortgages in the $417,001-to-$1 million range that were originated during the fourth quarter of 2013, according to data prepared for The Wall Street Journal by Black Knight Financial Services, formerly Lender Processing Services, a mortgage-data and services company. That is up from 22% a year earlier and the largest proportion since the third quarter of 2008.

After a year adjusting to new rules issued by the Consumer Financial Protection Bureau, some in the mortgage industry are still not up to code, the CFPB's latest supervision report found. The bureau’s eighth edition of supervisory highlights covers activities between January 2015 and April 2015, and resulted in remediation of $11.6 million to more than 80,000 consumers. We are extremely concerned that one year after the CFPB’s mortgage servicing rules went into effect we are still finding runarounds and illegal dual-tracking,” said CFPB Director Richard Cordray. “Consumers deserve to be treated with honesty and integrity, and our rules require that servicers give borrowers a fair process when they try to save their homes. The CFPB will continue to stand beside consumers to make sure mortgage servicers are following the law,” Cordray added. Under the Dodd-Frank Act, the CFPB has authority to supervise banks and credit unions with more than $10 billion in assets and certain nonbanks. The CFPB’s last report resulted in remediation of $19.4 million to more than 92,000 consumers, along with six mortgage origination violations.

We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200, www.learningmarket.org, e-mail cpe@nasba.org.


Field of Study Minutes CPE
Regulatory Ethics 90 1.8
Total Duration - 90 Min Total Credits - 1.8

Follow us :
ComplianceOnline Banking Summit 2016 | Risk Management and Data Security - 80390SEM
ComplianceOnline Medical Device Summit 2017

Product Reviews

This product hasn't received any reviews yet. Be the first to review this product! Write review

Best Sellers
You Recently Viewed
    Loading