Welcome to Calyx Webinars

Note: Due to the changing environment of the regulations we were not able to offer this webinar as a recorded play-back session. However, the Q&A and other info are available below.

Webinar Q & A: Please click here to view the questions answered from both webinars.

Click here to view the scenarios discussed during the webinar

Click here to get your Free chapter of the Abacus Mortgage Training and Education MLO compensation Rule Textbook containing the DOL Administrator's Interpretation No 2010-1.

What was covered?

• Brief overview of the rule
• Discussion of how terms and definitions are changing
• Who's included and who does the rule affect?
• Walk-through of common scenarios
• What is your liability, and what are the prohibited acts?
• Q & A

Featured Speakers Bio's:

• Paul Donohue with Abacus Mortgage Training & Education | read bio

  (Paul Donohue was a featured speaker on the Feb 22nd session only)

  Paul Donohue is the founder and owner of Abacus Mortgage Training and Education, a Nationwide Mortgage Licensing System and Registry (NMLS) approved education provider. Paul began his career building custom homes in the Blacksburg, VA area. After more than 10 years in the building industry he entered the mortgage industry in 1987.
  
  Paul founded MoneyNet Mortgage Planning Services in 1989 and in his 20+ year career originated over 4,000 mortgage loan applications. Paul founded Paul Donohue Presents, LLC in 1998 to focus on speaking, training and mandatory industry-specific education.
  
  In 2002, when Paul's home state of North Carolina instituted mandatory industry licensing, testing and education, he was one of the first state approved education providers. Paul Donohue Presents, LLC began doing business under Abacus Mortgage Training and Education in 2008 in anticipation of the national licensing agenda and to incorporate and focus on our other diverse and talented instructors.
  
  Since 2002 has personally taught over 20,000 students and written a number of courses and training programs both for credit and non-credit classes. Paul has authored dozens of sales, training and approved mandatory education courses, including:
   • The Fundamentals of Residential Mortgage Loan Origination
   • Customer Focused Origination
   • Office Management Excellence: Management, Supervision and Leadership
   • Serving a New America
   • Mortgage Origination Mastery
   • Lending Expertise
  
  Paul was the North Carolina Association of Mortgage Professionals' Broker of the Year, 1996.
  
  He was the North Carolina Association of Mortgage Professionals President from 1997-1998.
  
  Paul received the designation of Certified Residential Mortgage Specialist from the National Association of Mortgage Professionals in 1998.
  
  In 2002 Paul authored, "Fundamentals of Residential Mortgage Loan Origination". This course went on to be approved in over a dozen states and became his flagship course. When this course was retired in 2008, it had been completed by over 15,000 loan originators.
  
  Paul is a nationally known trainer and speaker. He is a supporter of the mortgage industry and a tireless advocate for Mortgage Loan Originators in the banking, mortgage banking, and brokerage industries.
  
  

• Tom Estes with Abacus Mortgage Training & Education | read bio

  Tom Estes is the Compliance officer for Abacus Mortgage Training and Education.
  
  Tom frequently acts in an advisory capacity to attorneys and lenders on issues of mortgage compliance. He has been the recipient of several industry related awards and is a ten year member of the Board of Directors of the North Carolina Association of Mortgage Professionals, the state National Association of Mortgage Brokers affiliate. He has also done research and development for numerous companies specializing in mortgage education.
  
  Tom has authored several classes, including but not limited to: Understanding and Complying with North Carolina's Predatory Lending Act, North Carolina's Mortgage Lending Act, An Introduction to Regulation Z, The Truth in Lending Act – Advanced Studies, Complying with the Safeguards Rule, A Primer in Basic Loan Origination Skills, The Impact of the Real Estate Settlement Procedures Act on Manufactured Housing, the Truth in Lending Act 2009 (MIDA), Cracking the SAFE [Mortgage Licensing] Act, The FHA 203(k) Streamline Loan, and The Real Estate Settlement Procedures Act 2010. He has also authored three classes on identifying and detecting mortgage fraud.
  
  In 2006, using the Fannie Mae Foundation's booklet, Knowing and Understanding Credit, he authored a class designed to teach consumers about issues of developing and managing credit.
  
  In 2007, Tom updated, improved, and edited materials from North Carolina State University for an adult education course for Central Piedmont Community College on basic principles of homeownership. In 2009, Tom developed the procedure for broadcasting webinars and developing content for them. As a part of that effort, Tom has developed and led webinars on the North Carolina S.A.F.E Mortgage Licensing Act and the Red Flags Rule.
  
  Tom is also an accomplished author, having written articles which have been published in Nationwide Mortgage Broker Magazine, the Mortgage Press, Manufactured Housing News, the Charlotte Observer, Cabarrus Business & Lifestyles Magazine, and The Charlotte Business Journal. He was honored to win the prestigious National Association of Mortgage Brokers' award for Article of the Year in 2001 for his article "Understanding Predatory Lending".
  
  

• Robert Lotstein, Industry Attorney | read bio

  Robert Lotstein is the Managing Attorney for LotsteinLegal PLLC. He is in the Washington, DC office. He provides counsel to clients on compliance applicable to mortgage lending, including banks, mortgage brokers, real estate companies, and other institutions offering services in conjunction with lending. Robert advises clients about growth strategies, including joint ventures, formation of new entities, outsourcing, and expansion. Robert provides due diligence on all matters regarding mortgage lenders, including acquisitions, compliance, and regulatory issues within the framework of Fannie Mae, Freddie Mac, and institutional investors. Robert is an expert on state and federal requirements, including RESPA, Truth in Lending, ECOA, Fair Housing, licensing, fair credit reporting, licensing, and HMDA. Robert also provides government relations services for lenders and trade associations.
  
  Robert Lotstein served as Senior Counsel of BuckleySandler LLP for over two years working with the firm's regulatory group.
  
  For fifteen years prior to joining BuckleySandler, Robert was Managing Partner of Lotstein Buckman LLP, a Washington, DC law firm that provided a wide range of services to the mortgage banking industry. The firm advised clients on federal, state, and local regulatory compliance issues, licensing, and other regulatory approvals and exemptions, and also provided government relations services for clients in Washington, DC and state capitals around the country.
  
  Robert served for many years as ABN AMRO's (as well as their subsidiary InterFirst) Washington DC Lobbyist and Counsel. On behalf of the Company, Robert worked with members of Congress, their staffs, banking committees as well as government agencies including HUD, the Federal Reserve, FDIC, and the OTC.
  
  Robert served as General Counsel to the National Association of Mortgage Brokers ("NAMB") and was a member of the NAMB Board of Directors for six years. He provided legal counsel as well as lobbying efforts on behalf of the Association.
  
  Under Robert's leadership, Lotstein Buckman launched iComply®, an online mortgage banking compliance analysis database for all 50 states and the District of Columbia, and published an annual Mortgage Banking Regulators Directory and Guide. iComply was sold in 2007 to Thomson Reuters and is now included in its family of database products under the Westlaw Compliance Advisor umbrella. Mr. Lotstein served as a consultant for Thomson Reuters for three years.
  
  Robert is a member of the Advisory Committee of the American Association of Residential Mortgage Regulators. He received the American Association of Residential Mortgage Regulators ("AARMR") 2002 Distinguished Service Award in recognition and appreciation of his continued support and service to AARMR. He chaired its committee on HUD's 2002 Proposed Rule on mortgage reform. He serves on the Mortgage Bankers Association of America's Regulatory Compliance Committee, Legal Issues Committee, Legislative Committee, and the State Legislative & Regulatory Steering Committee. Robert has participated in several regulatory working groups, including the Mortgage Reform Working Group, the Department of Housing and Urban Development's ("HUD") working group, and HUD's National Task Force on Predatory Lending. In 2009 and 2010, Robert was a speaker at the Mortgage Bankers Association's RESPA Ready 2010 Conferences that were held around the country to prepare the industry for the RESPA Final Rule effective January 2010.
  
  Currently, Robert serves on several task forces and working groups related to the Federal Reserve's loan officer compensation rule, RESPA 2010, state and federal repayment ability standards, synchronization of disclosures under RESPA and TILA, and changes from the Dodd-Frank law. Robert regularly advises clients on these issues.
  
  Robert is a frequent speaker and panelist at industry meetings, and has published articles in various trade publications. He has been interviewed and quoted in The New York Times, The Washington Post, American Banker, National Mortgage News and Real Estate Finance Today.
  
  Robert is a member of the Maryland, District of Columbia, and U.S. Supreme Court Bars, and is a registered lobbyist with the U.S. Congress and several state governments. He is a member of the Panel of Arbitrators of the American Arbitration Association. Robert received his J.D. from American University and B.A. from American University.
  
  

Note: The content of the webinar was meant to be informational and not serve as individual legal counsel.