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Course/Product Description
Title:

Impact Of The Homeowner's Flood Insurance Affordability Act Of 2014 On Mortgage Lending And Servicing

SKU:WC-1014130
Date / Time: Recorded
Format: Webinar
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Description:

The U.S. National Flood Insurance Program has been in a constant state of flux ever since it was revealed in the wake of Hurricane Katrina that it had a $24 billion debt load with a potential $1.2 trillion in exposure.

As a result, Congress has passed several pieces of legislation, most recently the Homeowner Flood Insurance Affordability Act, which have significantly altered the laws governing flood insurance premiums, forced placed insurance, and the broad requirements for the escrowing of funds to pay flood insurance premiums.

These laws, combined with the new mortgage-related rules issued by the Consumer Financial Protection Bureau have made navigating flood insurance requirements for mortgage lenders and servicers more complex and burdensome than ever before.

Join us for an overview of flood insurance laws and a discussion on the legal and practical implications the Homeowner Flood Insurance Affordability Act will have on the entire industry.

>Agenda

Overview of Flood Insurance Reform

  • The National Flood Insurance of 1968
  • The Flood Disaster Protection Act of 1973
  • Impact of Hurricane Katrina and Need for Reform
The Biggert Waters Flood Insurance Reform Act of 2012

  • Flood Insurance Rates
  • Escrow of Flood Insurance Payments
  • Force Placement of Flood Insurance
  • Private Flood Insurance Coverage
Response to the Biggert Waters Act
  • Banking Industry Concerns
  • Consumer Concerns
  • Congressional Response
The Homeowner Flood Insurance Affordability Act of 2014
  • The Changes
  • Timeline for Implementation
Impact on Mortgage Lenders and Servicers
  • Ability-to-Repay
  • Force-Placed Insurance
  • Escrow Requirements
  • Private Flood Insurance Coverage
  • Disclosures
  • Civil Money Penalty
Faculty

Richard J. Andreano
  • Practice leader, Mortgage Banking Group, Ballard Spahr LLP
  • Fellow, American College of Consumer Financial Services Lawyers
  • Chambers USA; America's Leading Lawyers for Business, banking and finance; financial services regulation; consumer finance (compliance), national ranking, 2014
  • MBA Compliance Essentials Loan Originator Compensation Resource Guide™ and MBA Compliance Essentials Loan Originator Compensation Resource Guide II™, published by the Mortgage Bankers Association
  • Editor-in-chief, Mortgage Finance Regulation Answer Book 2011 to 2012, published by the Practising Law Institute; writer of chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-writer of the Equal Credit Opportunity Act and Truth in Lending Act chapters
  • Counsel clients on residential mortgage regulatory matters, including flood insurance
  • Frequent speaker and writer on mortgage industry issues
Marc D. Patterson

  • Business and finance associate at Ballard Spahr LLP
  • Member of the firm's Mortgage Banking and Consumer Financial Services Groups
  • Practice focuses on helping national and state banks, credit unions, mortgage bankers, and services comply with federal and state laws and regulations
  • Focuses on retail financial services and regulatory compliances, including TILA, RESPA, UDAP, FCRA, FDCPA, and the National Flood Insurance Act and Flood Disaster Protection Act
  • Regularly assists clients with state law matters, including loan origination, documentation, disclosures, permissible fees, licensing, and foreclosure-related issues
  • Co-writer, Federal Agencies Propose New Federal Flood Insurance Regulations, Ballard Spahr alert, October 10, 2013


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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