Attention: New military lending rules of engagement

With Andy Zavoina

Attention: New military lending rules of engagement

With Andy Zavoina
  • 1 Video
  • 3 PDFs
  • 2.0 hrs
Course description

ICB Credit: 2.5 CRCM

General order number one: your bank has a military mission. When making a covered loan, you need to know who is military or a qualified dependent. What's a covered loan? We'll map it out for you and show you why you won't be able to avoid them in just a few months. Yes, if you dodged the Military Lending Act bullet before, chances are slim you won't after October.

While many military lending enforcement actions are not against banks like yours, your examiners still want to see complete compliance. That means clearly understanding the compliance requirements and having effective lines of communication between affected areas in your institution, as well as well-designed policies, procedures, training and execution.

The CFPB reports complaints, fines and reimbursements are up dramatically. If you don't have a complete understanding of the protections servicemembers have, this webinar is designed for you.
The MLA and SCRA protections extend beyond servicemembers, and in some cases beyond loans, reaching deposit accounts and even safe deposit boxes. The MLA affects you before you make a loan, while the SCRA largely impacts your existing relationships. We will discuss specific protections and early warning signals of problems that need to be addressed. You have an opportunity to learn from the mistakes of others.

In this session, you'll get information to help you understand:

  • what loans will be covered under the MLA rules beginning in October, 2016,
    • how the new MLA and SCRA protect servicemembers and dependents,
    • how to properly identify covered dependents,
  • what you must do and what you cannot do on covered transactions,
  • why complaints are early warning signals of things your examiner will review,
    • the confusion over the HUD - SCRA mortgage form, and
  • your marching orders for compliance.

You want to protect your customers, you also want to avoid a skirmish with examiners who will want to discuss your policies and procedures for addressing servicemembers' rights. You need to understand what your procedures need to address, who must be trained, how to respond to inquiries, and more.

In this webinar we will review existing and new rules:

  • When the MLA applies;
  • How the MLA affects your bank and when;
  • Why the SCRA exists, with practical examples;
  • Which sections of the SCRA and MLA affect your bank the most;
  • Who is protected under these two laws and how;
  • What lessons can be learned from thousands of complaints and enforcement actions;
  • Notice requirements from HUD;
  • What you should be doing to get ready for the transition to the revised MLA rules;

If you have a customer in the military or one who might join, if you have questions on when they can request an interest rate change or delay a foreclosure, join Andy for this two hour webinar.

WHO SHOULD ATTEND:

  • Chief lending officer
  • Compliance officer
  • Internal auditor
  • Legal counsel
  • Loan officer
  • Mortgage loan officer
  • Risk management officer
  • Sr management

Course Curriculum

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120:11
Attention: New military lending rules of engagement
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Instructor

Andy Zavoina
Andy Zavoina
Executive Vice President, Glia Group

Mr. Andy Zavoina, CRCM, is an Executive Vice President with the Glia Group, Inc., best known for its involvement with BankersOnline.com. He joined Glia and BOL in 2003.

Mr. Zavoina has been in finance and banking for 35 years. Over 20 years were with a two-bank holding company that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He has done loan workouts, has been a consumer, commercial and real estate lender and managed those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks.

Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee.

He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written articles and lectured on compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations across the U.S. and teaches basic compliance and compliance management.