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Ability to Repay Part 1 - New Rules that Impact Your Polices & Products: Deadline 1/10/2014 Webinar
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When: Archive only
2:00 PM
Where: In Your Credit Union
Contact: Kristina Kirchmer

Online registration is closed.
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This webinar will include changes announced by the CFPB on May 29, 2013.

The ability to repay concept is simple – make sure the borrower can pay before you make the mortgage loan.  The CFPB’s final pronouncement on this simple concept contained 236,000 words.  This webinar is the first of two presentations on this topic.  It will address the management impact of this new rule and the decisions that must be made in the mortgage loan and asset liability management areas.  The definition and impacts of "qualified mortgages” and "unqualified mortgages” will be covered, as well as the "points and fees” test.  This test is one of the two tests required to determine qualified or unqualified status.  (The actual ability to repay calculation and the proper approach for balloon mortgages will be included in Part 2 on August 1.)


  • The concept
  • How this new regulation affects risk management
  • Decisions that need to be made and the timing of those decisions
  • Definitions and their impact
  • The points and fees test
    • "Quick review” chart to assist your credit union in making decisions about the fees you charge that are included in "points and fees” and what charges can be omitted

This program is the first of two in a series.  Watch for
"Ability to Repay, Part 2 – What Your Lending Staff Needs to Do to Comply:Deadline January 10, 2014”
on Thursday, August 1, 2013.


Who Should Attend?
This informative session is designed for senior management, including those with responsibilities for loan management and asset liability management.  Lenders, compliance personnel, underwriters, and loan processors will also benefit from this webinar. Attendance verification for CE credits provided upon request.

About the Presenter: Bill Elliott, CRCM, Young & Associates, Inc.
Bill Elliott has over 30 years of banking experience.  As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.

Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank.  He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.

Educational Investment:

Archive Only
Over $75 million


$25 - 75 million


Under $25 million