2016 Mandatory - CFPB & Agency
The LREC 2016 Mandatory Core: CFPB & Agency course offers a comprehensive overview of essential topics licensees are likely to encounter in their day-to-day business dealings.
It has happened: the new integrated disclosure requirement went into effect on October 3, 2015. Lenders had the heavy lifting to do to get ready… but real estate salespersons will likely continue to answer a lot of questions asked by the clients with whom they work.
In addition, this course reviews key laws governing agency in the state of Louisiana, a topic that seems easy on the surface, but in fact tends toward being a top issue.
This four-hour course will help refresh your memory on agency, while also fine-tuning your understanding of the integrated disclosures to help you answer questions buyers and sellers are sure to have.
Course highlights include:
- A review of the legislative changes that have brought about the changes to the closing process
- A quick overview of the Consumer Financial Protection Bureau’s role
- The integration of the four disclosure forms and what replaces them
- When the new integrated disclosure forms do not apply
- Explanations and breakdowns of the Loan Estimate form and the Closing Disclosure form
- Requirements in order to revise the Loan Estimate form
- Timeframes for delivery of the integrated disclosure forms
- Definitions for “business day”
- What real estate salespersons need to know
- A look at how to properly establish agency relationships
- A discussion of the Agency Disclosure Brochure, including how and when to use it
- Activities and examples to seal in the new information and frame it in everyday context