Applicants and Applications: Knowing the Players and the Rules

Recorded on September 30, 2015   |   With David Dickinson

Applicants and Applications: Knowing the Players and the Rules

With David Dickinson
  • 1 Video
  • 3 PDFs
  • 2.0 hrs
Course description

ICB Credit: 2.5 CRCM

Join BOL Guru David Dickinson to learn the rules of loan applications. The term "application" is something many of us think we understand; however, there are many misconceptions and often this is an area where we really don't quite understand as well as we should.

Follow along as the application process is explained step by step with real life examples. Learn what an inquiry is, and when it becomes an application. Lenders and marketers must understand the differences between a prequalification program and a loan program. You will also learn when the law requires an application, or if they're required by a specific policy or procedure. Learn the answers to these questions and many more:

  • What is considered a loan application?
  • When does an inquiry become an application?
  • What is a Prequalification?
  • If I have a prequalification, do I have to do anything?
  • What is a Preapproval?
  • If I have a preapproval, do I have to do anything?
  • Must an application be in writing?
  • What about applications not received in person?
  • Must applications be signed?
  • Can I require a spouse or someone else to sign?
  • When can I require someone to guaranty or co-sign a loan?
  • [This webinar will touch on when can you ask a spouse (or other person) to sign and what documents they can be required to sign. However, "Joint Intent" is a separate webinar topic.]
  • What's the difference between a co-signer, a co-applicant and a co-borrower?
  • When are Truth in Lending and RESPA disclosures triggered?
  • [This webinar is not focused on Reg Z and RESPA disclosure but rather the application process that triggers these disclosures.]
  • When is an Adverse Action Notice needed?
  • What is a HMDA preapproval?

This webinar will be designed for Senior Management, Compliance Officers, Auditors, Lenders, Loan Processors and Loan Operations Personnel.

Course Curriculum

Understanding applications and applicants
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Questions and Answers
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David  Dickinson
David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the Center for Financial Training, the American Bankers Association National Compliance Schools and is a frequent speaker at the ABA’s Regulatory Compliance Conference. David is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have 3 adult children (none of whom live at home!) & 3 cats (which Dave is allergic to). They live on a lake in Nebraska and when possible, Dave can be found fishing or in the water. David plays the guitar & piano and enjoys singing with Karen. Together they lead worship at their church.