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Understanding HELOC Requirements Webinar


Home equity lines of credit (HELOC) are a popular loan product with very unique compliance requirements. Join us as we dive deep to ensure that your institution is accurately addressing all aspects of this product from disclosures to statements, including understanding compliance and fair lending risks when property values decline.

This program is designed to provide numerous checklists and examples to utilize in reviewing or developing a HELOC product. An overview of the compliance regulations impacting the HELOC product will be provided, including a detailed checklist to verify the disclosure includes all required details. We will review rescission and periodic statement requirements as well as possible action steps to take when property values decline. Sample line suspension letters and a freeze notice will be given. Definitely a session designed to provide guidance whether you are developing, servicing, or auditing HELOCs.

A detailed manual is provided for future reference to all participants.

What You’ll Learn

  • Identify regulatory compliance disclosures including the required program specific HELOC disclosure and brochure
  • Flood FAQs specific to HELOCs
  • Periodic statement requirements including a checklist to verify statement contents
  • Properly meeting right of rescission requirements
  • How to handle a decline in home value including examples of calculating what is a “significant decline”
  • Understanding compliance and fair lending risks when property values change
  • Interagency guidance when the draw period is ending
  • HELOC disclosure compliance checklist

Who Should Attend
This informative session is designed for loan officers, loan support staff, compliance officers, auditors, and others responsible for origination and servicing of HELOCs.