Manage the Impact of Recently Enacted Changes to Reg. Z

On October 1, 2009, changes went into effect that marked a lower predatory lending threshold under Regulation Z with the creation of "higher-priced" Section 35 mortgage loans. The threshold for these mortgages are determined by reference to the weekly Average Prime Offer Rate (APOR). That means new processes, new policies, a new threshold -- and more testing. Learn how to best manage these changes with consulting services and technology solutions from Wolters Kluwer Financial Services.

Click here to download a copy of The Q and A on Reg. Z from one of our senior consultants.

Update Policies, Revise Procedures and Implement Testing Technology

We can help you understand and respond to the higher-cost loan thresholds.

Our technology solution, Wiz Sentinel, will help you:

• Capture the data needed for comparison to the APOR table.
• Test loans for the new “higher-priced” threshold.
• Test loans earlier and more frequently in your process.

Our consultants will help you:

• Update policies and procedures related to: new escrow and disclosure requirements, measuring the borrower’s ability to repay, and calculating the 7 year high payment.
• Train staff members on the differences between Section 32 (HOEPA) and higher-priced mortgages. 

Testing Applications for Higher-Cost Loan Thresholds

We can help you cope with these new changes. We'll help you understand the requirements, develop your policies, train your staff, and implement the software solutions you need for a strong Reg. Z compliance program. Manual testing is no longer feasible – and being unprepared can result in the origination of risky loans. Let us help formulate your readiness response plan.

Call Wolters Kluwer Financial Services at 1-800-261-3111 or click here for more information.