This program provides an overview of the newly revised RESPA requirements
The Department of Housing and Urban Development (HUD) recently approved a final rule that completely overhauls the requirements of Regulation X, the implementing regulation for the Real Estate Settlement Procedures Act (RESPA). While some the revisions are already in effect, most of the new rules are effective January 1, 2010.
The changes to RESPA’s Regulation X are extensive and involve most sections of the regulation. This webcast provides an overview of all of the major changes.
The most significant changes to RESPA and Regulation X involve the revised forms. Every mortgage lender and settlement agent in the nation will have to deal with the new Good Faith Estimate, HUD 1/1A and Servicing Disclosure Statement.
This webcast provides information on the following:
This webcast provides information on the following:
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The new three-page Good Faith Estimate form;
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The new prohibition against imposing fees;
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The new re-disclosure rules applicable for changed circumstances;
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The new three-page HUD-1and the new two-page HUD-1A;
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The new disclosure tolerances;
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The new right to cure disclosure errors;
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The new credit or charge for the specific interest rate chosen;
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The new average cost pricing method of disclosing costs on the HUD-1/1A; and
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The revised Servicing Disclosure Statement and the new instructions for preparing the form
Workshop Resources: This program provides an overview of the newly revised RESPA disclosure requirements. Program participants receive a detailed manual, accompanied by a 1 hour 44 minute video webcast.
Expected Audience: The program is designed for compliance personnel, lenders and management of financial institutions and mortgage lending companies, mortgage brokers, and settlement agents.
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Speaker: Jack Holzknecht, is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-eight years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company. |
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