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Preparing for Changes in RESPA: Complying Both Today and into 2014

Webinar: ID# 1012403
Recorded CD or On-Demand
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Preparing for Changes in RESPA: Complying Both Today and into 2014
About This Course:
RESPA is already undergoing many changes. We've seen final rules regarding servicing requirements, mandatory homeowner counseling, and in other areas. In the meantime, we have to manage with what we have when it comes to disclosures, even though we're waiting on new final rules there, as well.

In this webinar, we'll discuss the current GFE and HUD-1, so you know what's expected today (since new disclosures won't be required for at least a year, maybe longer). We'll emphasize common issues and problems. We'll go through the GFE block-by-block, and talk about what fees go where. We'll also talk about how various types of charges must be disclosed, including how they impact tolerances.

We'll detail the new servicing rules, as well as provide a primer for the new disclosures and what to expect.

Covered Topics:

  • Coverage of RESPA: what loans fall under the rules? What are the exemptions and exceptions? Helpful guides and flowcharts included, plus has this changed as part of the new final regulations (Hint: Thankfully no)
  • Loans secured by vacant land and rental property
  • Meeting the definition of "application" - how can this help you? When do you have to provide a GFE? How will this change with impending new rules?
  • Block-by-block analysis of the GFE and fees
  • When can (or must) you issue a revised GFE: "changed circumstances": a new area of compliance concern
  • Preparing for new disclosures: replacements for the GFE (including the provider list) and HUD-1 Settlement Statements
  • Tolerances - what fees go where, plus managing refunds
  • Anti-kickback rules (section 8): what you can and should not do, plus renewed emphasis by examiners
  • Details on the new servicing rules (hint: big-time policies and procedures) and counseling requirements

Who Should Attend?

This informative program is designed for mortgage loan officers, underwriters, closing and title company agents, mortgage banking attorneys, auditors, compliance officers, mortgage brokers and anyone else who deals with RESPA on a day-to-day basis or even occasionally.

The Presenter:

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country.

He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

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Preparing for Changes in RESPA: Complying Both Today and into 2014
Available on CD or On-Demand formats
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