The Wild World of RESPA - Assessing New Requirements, What to Do, and How to Do It

Carl Pry


Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Vice President and Compliance Manager for a large financial institution in Ohio. 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.
Tuesday, July 14th, 2009
10:00 am - 12:00 pm CT
The Institute of Certified BankersTM(ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. This webinar has been approved for 2.5 CRCM credits.

Big changes are in store for real estate lenders at the beginning of next year. HUD has made significant changes to RESPA, including a brand-new GFE and HUD-1. The GFE in particular looks nothing like the form you're presently using, and consequently your processes will be changing dramatically. In addition, there are some new definitions and provisions, some of which are effective right now.

Covered Topics Include:

  • Coverage of RESPA: what loans fall under the rules? What are the exemptions and exceptions? Helpful guides and flowcharts included
  • Loans secured by vacant land and rental property
  • New definition of "application" - how can this help you?
  • Guaranteeing rate and terms on your GFE
  • New disclosures: GFE (including changes to required providers), HUD-1 Settlement Statements, Servicing Disclosure Statements - the how's, the when's, the why's
  • Tolerances - a new concept for RESPA
  • Controversy over changes to "required use"
  • Timing of disclosures: the most common violation of RESPA and how to avoid it
  • Anti-kickback rules (section 8): what you can and should not do, plus new activity in this area
  • Useful resources for RESPA research and compliance

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.
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