Module 3: Other Federal Laws Pertaining to Loan Origination Activities

1. Module 3: Other Federal Laws Pertaining to
Loan Origination Activities

2. Module 3: Other Federal Laws Pertaining to Loan
Origination Activities
3.1 Laws Pertaining to Consumer Privacy
 Gramm-Leach-Bliley Act (GLB)
 Privacy Rule (Regulation P)
 Privacy Notices
 Prohibition Against Disclosing Account Numbers
 Safeguard Rule
 Pretexting - Fraudulent Access to Financial Information

3. Module 3: Other Federal Laws Pertaining to Loan
Origination Activities
3.1 Laws Pertaining to Consumer Privacy
 Do-Not-Call / Telemarketing
 Telephone Consumer Protection Act
 Do-Not-Call Registry
 Do-Not-Call Rules
 Unsolicited Commercial Faxes
 Telemarketing and Consumer Fraud Abuse Prevention Act
 FTC’s Telemarketing Sales Rule
 Who Must Comply with the TSR?
 Requirements for Sellers and Telemarketers

4. Module 3: Other Federal Laws Pertaining to Loan
Origination Activities
3.2 Laws Pertaining to Fair Lending
 Home Mortgage Disclosure Act (HMDA)
 Regulation C
 HMDA Rule Amends Reg. C
 Covered Institutions
 Covered Transactions
 Reportable Loan-Level Data
 Collection and Reporting of Applicant Information
 Enforcement Provisions
 Mortgage Acts and Practices – Advertising, 12 CFR Part 1014 (Regulation N)
 Prohibited Representations
 Recordkeeping Requirements

5. Module 3: Other Federal Laws Pertaining to Loan
Origination Activities
3.3 Laws Pertaining to Fraud & Identity Theft
 Fair Credit Reporting Act / Fair and Accurate Credit Transactions Act
 Permissible Purposes of Consumer Reports
 Consumer Access
 Consumers’ Rights
 Identity Theft Prevention
 Section 114 of FACTA – Red Flag Rules
 Categories of Red Flags

6. Module 3: Other Federal Laws Pertaining to Loan
Origination Activities
3.3 Laws Pertaining to Fraud & Identity Theft
 E-Signature Laws—UETA and E-SIGN
 Uniform Electronic Transactions Act (UETA)
 Electronic Signatures in Global and National Commerce Act (E-Sign)
 What is an e-Signature?
 Intent to Sign
 Signature Associated with the Record
 Bank Secrecy Act/Anti-Money Laundering (BSA/AML)
 USA PATRIOT Act
 Lending Institutions Covered by Title III of the Patriot Act
 Anti-Money Laundering Programs for Loan Companies