On January 4th, 2012, the CFPB launched the first nonbank federal supervision program under the authority of section 1024 of Dodd-Frank. The message was clear: Nonbanks would be subject to the same enforcement traditionally reserved for banks.
Making the right preparations will save you fines and penalties of up to $1 million per violation per day.
Don't miss this fact-filled CFPB Examination Guidelines Webinar that will bring recommended actions, practices and policies for your company including:
- What kind of staffing will you need
- Hot-button issues to prepare for to be ready
- New reporting systems and what you'll need to know
- What they will look for to see if you engage in "abusive practices"
- What they will look for to see if your business creates disparate impact, no matter how unintentional
- Is it true that the fines can be $1 million per day per violation?
- What do you do if lawyers from the CFPB show up at the examination?
- Will I be able to appeal any fines, penalties or findings?
Host: Mark Fogarty, Editor, National Mortgage News
Joseph Garrett, Principal, Garrett, McAuley & Co.
Joe Garrett advises banks, mortgage banking companies and one GSE in the areas of risk management and related issues. He has been the President/CEO of two banks and currently sits on the Board of a $1 billion commercial bank.
G. Bradley Hargrave, Shareholder, Medlin & Hargrave
Brad is a Shareholder of the Medlin & Hargrave. His practice is devoted to the representation of mortgage bankers, finance lenders and mortgage loan originators. Brad has extensive experience advising clients on compliance and licensing issues under the Real Estate Settlement Procedures Act, the Truth in Lending Act, the California Residential Mortgage Lending Act, the California Finance Lenders law, HUD/FHA rules and Californias Real Estate Law.
Who should attend:
Mortgage Brokers and Lenders
Other industry professionals involved in origination
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