According to reports, home equity withdrawals are up while HELOC rates are down. As HELOC activity picks up, so does a bank’s risk and compliance questions. Aldrich & Bonnefin, PLC is pleased to invite you to a Webinar on Home Equity Lines of Credit and the compliance requirements under the Truth in Lending Act and Regulation Z.

 

As most bankers know, HELOCs are compliance intensive. With special disclosures at the application stage and extra required disclosures in the account agreement, through tough restrictions on freezing or terminating HELOCs or changing any of the terms, offering home equity lines requires a detailed knowledge of the applicable rules. Periodic billing statements are also presenting issues for some lenders. Additionally, the regulators’ “end of draw” guidance has created issues.

 

This Webinar takes a step-by-step approach, beginning with the early application disclosures, then addressing the special equity line disclosures that must be included at account opening, and ending with the restrictions on changing terms and freezing or terminating these credit lines. We will also touch on the right of rescission and periodic statements and finally how to “term out” an equity line. Plenty of examples and time for questions will be provided.both outgoing and incoming wire transfers.