Tennessee Bankers

WEBINAR: 2019 TRID for Construction Loans

February 26: Online

1:30–3:30 p.m. CT


Program Speaker

Jack Holzknecht, Compliance Resource, LLC


The new Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rules were effective on October 3, 2015. Many lenders scrambled to master the details of the new disclosures. Construction loans were particularly difficult because of a lack of binding clarification of the requirements. But help has arrived.

On July 28, 2016, the Consumer Financial Protection Bureau (CFPB) published proposed rules to clarify the TRID rules for construction loans. Final rules were published on July 7, 2017. The final rules were effective on October 10, 2017, and compliance was mandatory on October 1, 2018.

Prior to TRID many construction loans were exempt from the old disclosure requirements; but TRID clearly expanded the scope of Regulation Z to cover most construction loans.

Initially, the CFPB provided few details regarding completion of the Loan Estimate and the Closing Disclosures for these loans. The most recent revisions clarify many lingering forms issues. Unfortunately, the regulation still does not contain sample forms for construction loans.


Why Attend?

The program and the program materials, which are completely updated for the revisions that were mandatory on October 1, 2018, provide an update on regulatory guidance for construction loans. The program explains coverage and exemption rules and provides section-by-section guidance on completing the Loan Estimate and the Closing Disclosure for the most typical construction loan options and include numerous form samples. The presenter provides answers for the many questions bankers have regarding the proper disclosure of construction loans.



Upon completion of the program, participants understand:
•    When and why construction loans are covered by the TRID rules
•    How to complete the loan estimate and closing disclosure for:
      - Construction only loans
      - Combined construction/permanent loans (both one-close and two-close) 
      - Permanent financing that replaces construction financing
•    How to properly estimate interest on a construction loan
•    The impact of a construction only loan versus a lot purchase/construction loan
•    When to disclose “Sales Price,” “Estimated Value,” or “Appraised Value”
•    How to determine the proper “Purpose” of the loan
•    How to properly describe the “Product”
•    The proper disclosure of projected payments
•    How to properly disclose inspection fees
•    How to disclose undisbursed construction funds
•    Completing the “Cash to Close,” “Optional Alternative Cash to Close,” and “Cash to Close” in the Borrower’s Summary of the Closing Disclosure
•    When the AP Table is needed and how to properly complete it
•    How to complete the “In 5 years” disclosure for short-term construction loans
•    When to include the “60 days prior to consummation” disclosure



This webinar is designed for those seeking answers to questions regarding the proper disclosure of construction loans. It is designed for everyone involved in the origination of construction loans and those making decisions on construction loan products, compliance staff, and auditors.


Registration information

Site connections/registrations for this program are accepted on a first-come, first-served basis.

Everyone registered for this webinar will receive access information for the presentation plus materials for printing via email on Thursday, February 21, 2019. Those who do not receive information by 2 p.m. CT on that date are not considered registered and should contact Sheena Frech in the TBA office. You may contact TBA prior to February 21 to verify receipt of your registration.

Tennessee Bankers Association does not assume responsibility for incorrect information supplied to us, for those registering incorrectly for the program, or for registrants who do not contact TBA if they have not received access information by 2 p.m. CT on February 21.


Webinar Access Information

Webinar participants receive phone access for the audio portion of the presentation and a link to the PowerPoint slides shown during the webinar. The two-part presentation is approximately 120+ minutes, including time for Q&A. Each individual registration provides one connection to the live audio program, and this connection allows you to have unlimited listeners present during the presentation.


Program Fees

Live and Recorded

TBA Members / Associate MembersNonmembers
Registration $390$410

Live Only

TBA Members / Associate MembersNonmembers
Registration $305$325

Recorded Only

TBA Members / Associate MembersNonmembers
Registration $340$360

TBA Contact

Sheena Frech - sfrech@tnbankers.org
Director of Education
Tennessee Bankers Association
211 Athens Way, Ste 100 • Nashville, TN 37228-1381
800/964-5525 or 615/244-4871 or www.TNBankers.org

Register for WEBINAR: 2019 TRID for Construction Loans

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