With all the different types of business entities, lenders have challenges in properly identifying their borrowers and understanding their legal structures. Customer Identification Program (CIP) requirements and the Beneficial Ownership Rule impose specific regulatory requirements for identifying borrowers. Failure to properly identify a borrower may not only impair the lender’s security interest and put the collectability of the entire loan at risk due to UCC Article 9’s requirements, but could also result in a compliance violation.

 

This Webinar will address these issues in a “workshop” format, providing checklists for the types of documents that can be obtained from various types of business entities.

 

Under rules that became effective in 2014, all “loan originators” of consumer-purpose, dwelling-secured, closed-end loans must receive training on state and federal laws applicable to their job duties. This requirement appears as part of the loan originator qualification requirements in Regulation Z Section 1026.36(f). It applies to all residential mortgage loan originators, both employees and third-party mortgage brokers. The training requirements apply to a loan originator regardless of whether he or she meets the definition of a “mortgage loan originator” under the SAFE Act. Under Regulation Z, the term “loan originator” is defined broadly and includes any employee who takes an application for a residential mortgage or offers, arranges, or assists a consumer in obtaining or applying for a dwelling-secured, closed-end loan. The rule is limited to closedend mortgages; home equity lines of credit are not covered.

 

This two-hour Webinar will provide training that is relevant to all loan originators and will help fulfill their training requirements under Regulation Z. Under Regulation Z, training must cover both federal and state law that apply to the LO’s job responsibilities and, as such, this Webinar will cover both federal and state law.

 

 

Aldrich & Bonnefin, PLC is pleased to invite you and your staff to attend our August 2025 Webinar, Overdraft Payment Practices: Compliance Considerations and Recent Developments. This program will provide a summary of the major overdraft-related issues regulators appear to be currently focusing on, including certain fee-related practices. The Webinar will also provide an overview of current and evolving regulatory expectations and UDAP/UDAAP issues raised by overdraft payment practices. Overdraft and NSF fees continue to be a source of heightened regulatory scrutiny and litigation risk. For these reasons, this program is not one to miss.