Dodd Frank Update hosted this essential 90-minute training webinar to inform industry participants about the important provisions of the newly proposed risk retention rule and its qualified residential mortgage (QRM) definition. Order and learn:
- What QRM means to their business;
- When to apply risk retention;
- What is different in the re-proposal from the original proposal;
- Crucial provisions on which to provide comment to the federal agencies;
- How QM translates to QRM; and
- The cumulative impact of QM and QRM.
Speakers Ari Karen, principal of Offit Kurman, and Kristie Kully, of counsel at K&L Gates, will provide in-depth training on this proposed rule, discussing the effects of it, should it become final, and what mortgage professionals will need to do to meet the proposed QRM standards.
The recording includes the full PowerPoint presentation, along with complimentary, feature articles from October Research LLC publications, including Dodd Frank Update.
In an effort to protect secondary market investors, the Dodd-Frank Act directs several regulators to promulgate this rule, which generally requires anyone who securitizes a loan to hold 5 percent of the risk. However, Dodd-Frank provides an exception to this requirement for loans meeting certain criteria, otherwise known as QRM. On Aug. 28, the agencies drafted a re-proposal for comment.
The comment period for this rule ends Oct. 30. Tune into this webinar for a comprehensive look at this rule and insight into the provisions of which to provide comment to the federal agencies.
Offit Kurman, Attorneys at Law
Ari Karen is a principal in the Bethesda, Md., office of Offit Kurman. Karen is an aggressive and experienced litigator, with a primary focus on disputes involving claims of discrimination, unfair competition, fiduciary breach, partnership disputes, worker misclassification, and minimum wage and overtime litigation in all state and federal trial and appellate courts. He litigates both individual and class actions, utilizing strategies that aim at reducing or eliminating clients’ exposure in the most cost-effective and efficient manner.
In addition to litigation, Karen uses his litigation experience to counsel clients in proactive and practical means of compliance with technical wage-hour laws and other labor and employment regulations.
Karen has won precedent-setting decisions against the U.S. Equal Opportunity Commission. He has also counseled several mortgage banks and financial services firms on the development and implementation of cutting edge policies and procedures that have allowed institutions to remain compliant with all wage hour laws without disrupting proven business models or undermining their competitive advantages. Karen has written and spoken extensively for industry-related publications and events. He earned a Bachelor of Arts degree (cum laude) from the University of Maryland and his law degree, with distinction, from Emory University.
Kristie Kully is of counsel in the Washington, D.C., office of K&L Gates. Kully concentrates her law practice on federal and state regulatory compliance matters affecting mortgage banking clients in the primary and secondary mortgage markets. She advises mortgage brokers, lenders, servicers, purchasers and securitizers, as well as other participants in the real estate finance and consumer credit industries, on compliance with licensing, consumer protection, originating, purchasing, servicing, consumer loans, credit cards, lease agreements and deposits.
Kully is a former attorney of the U.S. Department of Housing and Urban Development, where she provided legal counsel on the oversight of Fannie Mae and Freddie Mac, the interpretation of the Real Estate Settlement Procedures Act and the implementation of other various housing programs. She also worked in the financial services industry for a number of years prior to joining K&L Gates.
Kully has given presentations around the country and appeared on radio talk shows and webinars discussing pressing developments and regulatory initiatives such as new Truth in Lending Act requirements for loan originator compensation, the Dodd-Frank Act’s concepts of qualified mortgages and qualified residential mortgages, and the SAFE Act’s loan originator licensing/registration requirements. She also has written many client alerts and articles. She graduated from Cornell Law School and earned a Bachelor of Arts degree at the University of Nebraska.
Editor, Dodd Frank Update
October Research, LLC
Nathan Marinchick is editor of Dodd Frank Update, which was launched in early 2011 to provide daily updates on the avalanche of regulations, opinion papers, Congressional hearings and case law that has emerged in the wake of the passage of the Dodd-Frank Act in 2010.
A veteran journalist, Marinchick spent nearly a decade as a reporter and anchor in the Cleveland, Ohio, radio news market before joining October Research in March 2011. His reporting spanned government, industry and pop culture. He has a communications degree from John Carroll University in Cleveland, Ohio.