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Update on Managing HELOCs - Consumer Laws and Recent Litigation
Webinar
11 AM CT
Presenter(s): Jonathan Jerison
Duration: 1 hour
Pricing:
$299 - Live, Download or CD
$249 - (for Affiliation Members)
$349 - Live + Download or Live + CD
Is your institution facing a deteriorating Home Equity Line of Credit portfolio? Are you sure you are in compliance with the complex laws and regulations surrounding HELOCs? Some institutions are already facing class action lawsuits from claims that they didn't follow the rules. Make sure you know how to protect your institution in this volatile environment and steer clear of litigation and regulatory sanctions.
Join this “can’t miss” session with noted attorney Jonathan D. Jerison, and learn how to navigate safely through the legal and regulatory maze of managing HELOCs.
This webinar will answer critical questions such as:
- When should you reduce or suspend lines of credit to actively manage your home-equity portfolios?
- What are the courts saying about managing your HELOCs and whether you can still rely on the Regulation Z safe harbor when a decline in value wipes out half of your equity cushion?
- Do you need to do a new appraisal?
- Can you use automated value models or broker price opinions?
- Can you use area-wide statistics?
- How can you prove you reasonably believe that the consumer will default?
- Can you use FICO scores by themselves?
- Does it help to have an appeals process?
- How do other laws such as Fair Lending, Fair Credit Reporting Act, Equal Credit Opportunity Act Adverse Action and Unfair and Deceptive Acts or Practices (UDAP) considerations impact how you manage HELOCs?
- How do FDIC and OTS Guidance make it both easier and harder to manage HELOCs?
- What is your institution’s exposure to litigation such as class action suits and actual damages in individual actions—and what can you do to minimize it?
BIO: Jonathan Jerison
Jonathan Jerison provides regulatory, legislative and transactional advice to mortgage lenders, servicers, and insurers, as well as other lenders, and defends mortgage and consumer finance companies in government enforcement actions. Mr. Jerison counsels bank and non-bank financial institutions and their affiliates in complying with federal and state consumer protection laws and regulations, including providing general regulatory advice, providing advice on fair lending issues, reviewing consumer disclosures, drafting legislative or regulatory language advocacy papers, and amicus briefs, and advising on a wide variety of consumer finance issues, including privacy, the Fair Credit Reporting Act, the Home Mortgage Disclosure Act, the Truth in Lending Act, fair lending, telemarketing, and electronic commerce matters.
Mr. Jerison was Managing Editor of the Industrial Relations Law Journal at the University of California School of Law. His prior experience includes 14 years as a staff attorney and senior staff attorney in the Divisions of Financial Practices, Policy and Evaluation, and Enforcement at the Federal Trade Commission, where he was responsible for enforcement, interpretation, and rulemaking involving the federal consumer credit laws and the Federal Trade Commission Act.
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