Construction Loans: Cost Overruns, Delays & Occasional Disasters

Friday, August 6, 2021 
11:00 am – 12:30 pm Eastern

Lumber prices are skyrocketing!  Materials costs are steadily increasing.  These trends affect lenders and borrowers alike.  Do you have a plan to handle cost overruns?  Building delays?  Unexpected challenges?  Join us to learn the available avenues to keep construction loans on track.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

• Know how to handle a construction loan when there are cost overruns, construction delays, and the occasional construction “disaster”
• Understand the different methods available to handle each type of situation
• Identify the decisions necessary to properly deal with RESPA and Truth in Lending issues, which often surface in these situations
• Explain the alternatives regarding escrow requirements to potential applicants 
  

WEBINAR DETAILS 

Construction loans have always increased risk for financial institutions.  And with the current challenges regarding labor, available materials, materials costs, etc., the risk is steadily increasing.  This webinar will address compliance issues, but the focus will be on the practical short- and long-term matters lenders are facing.  It will cover additional construction loan issues that the CFPB and TRID have yet to acknowledge, as well as items to consider for situations that aren’t addressed in the regulations.  This timely program will center on available choices and how to navigate the current environment’s mine field.  

WHO SHOULD ATTEND? 

This informative session is for anyone involved in construction lending, but will especially benefit mortgage department heads, senior lenders, compliance officers, and mortgage department personnel.

TAKE-AWAY TOOLKIT

• Manual with instructions and information for all areas of construction lending drawn from several sources, including the CFPB’s two construction loan compliance guides. This will be mostly used as background information in the presentation.
• Employee training log 
• Interactive quiz
  

SPEAKER

Bill Elliott, CRCM, Young & Associates, Inc.

Bill Elliott has over 40 years of banking experience.  As a senior compliance consultant and Director of Compliance Education 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 departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by Financial Education & Development

If you are having issues with registering online, please contact CBAO's Education,Training & Special Events Coordinator, Patti Webb, (614) 610-1877.