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Ability to Pay Part 2-What Your Lending Staff Needs to Do to Comply: Deadline 1/10/2014 Webinar
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When: Archive only
Where: In Your Credit Union
Contact: Kristina Kirchmer

Online registration is closed.
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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 second of two presentations on this topic.  It will address the management impact of the calculation rules and continue the discussion regarding the decisions management must make in the mortgage loan area.  The program will focus on the second test for a "qualified mortgage” – debt to income.  While you have been calculating this number for a long time, the CFPB has specific ideas on how it should be done – and they will likely require policy and procedure modifications. 

The far-more problematic "residual income” issue and the impact this could have on your mortgage-decision process will also be covered.  The session will conclude with the impact on balloon mortgages and the asset-liability management process.  (The definition and impacts of "qualified mortgages” and "unqualified mortgages” and the "points and fees” test were covered in Part 1 on June 26).

This webinar will include changes announced by the CFPB on May 29, 2013.


  • The concept
  • The new calculation methods required for debt to income
  • The impact of "residual income”
  • The impact on balloon lending, and the management decisions that must be made
    • A calculation method that will assist in making the debt-to-income calculation, which you can edit to meet your individual needs
    • Electronic training logo
    • Quiz you can administer to measure staff learning and a separate answer key

This program is the second of two in a series.  The archived webinar is still available for:
"Ability to Repay, Part 1 – New Rules that Impact Your Policies & Products: 
Deadline January 10, 2014”

(See June 26, 2013, on the archived webinar listing.)
Attendance verification for CE credits provided upon request.

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.

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