The Loan Officer's Practical Guide to Compliance

ISBN 0-9718205-4-6

For the new loan officer, the first introduction to training he or she receives is a battery of regulatory compliance training. While this is not on the job, vocational training, knowledge of how regulations require the loan officer to conduct his or her job can aid the loan officer in developing rapport with a customer and help close more loans.

The reader learns the requirements of the Federal Laws - who the regulators are and the impetus of the laws.  This is followed with a detailed treatment of the Real Estate Settlement Procedures Act (RESPA), Truth-in-Lending (TILA), Federal Consumer Protection Laws like the Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA) and Federal Privacy Acts (Gramm-Leach-Bliley), Home Mortgage Disclosure Act and others.  Many compliance books are written from the perspective of a lawyer, providing citations and case law.  This book is written in plain English from the perspective of the loan officer's daily business - the forms and disclosures, how they are completed, what they mean, and the practical applications of the law in daily life.  

In addition, sections on Understanding Mortgage Fraud, Understanding Predatory Lending and Understanding Ethics take the same plain English, practical approach.  Each identifies the practices and how they may appear in day-to-day lending.  Most importantly, the lessons are plain in how to avoid becoming involved in even the appearance of impropriety.

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The Loan Officer's Practical Guide to Residential Finance
The Practical Guide to Loan Processing
The Loan Officer's Practical Guide to Marketing with Tools
The Loan Officer's Practical Guide to Compliance

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