Start Date: 11/30/2022 1:00 PM MST
End Date: 11/30/2022 2:30 PM MST
A home equity line of credit is a special type of loan that is highly regulated. Every aspect of a HELOC has special rules. There are special disclosures to include in loan documents, specific wording required in advertisements, particular limitations on when the lender may decrease or suspend a HELOC, and special timing requirements for disclosures that must be sent before a HELOC matures. Regulation Z prohibits a lender from changing any term of a HELOC, except in very limited circumstances. This webinar will explain the required HELOC disclosures and the restrictions on HELOC advertising. It also will explain the specific situations when a lender is permitted to decrease, suspend, or terminate a HELOC, and the proper steps a lender must take to do so. In addition, how to handle HELOCs nearing their end-of-draw periods will be covered.