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RESPA What's HOT Now
(Presented by Lucy Griffin)
RESPA ties with Truth in Lending at the top of the common violations list. But it isn't always the common violations that are the worst problems. Right now, examiners are reporting lots of concerns about Section 8 violations - kickbacks and illegal fees. These are the serious violations, and they slip into place so easily!  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |
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But first, we'll cover the common violations. These are the errors that happen with GFEs and HUD-1s. this quick review will help you identify and prevent errors - and avoid citations in your next examination.
After quickly covering the common disclosure violations, this program will concentrate on Section 8 violations. Lucy Griffin will cover what the violations are, how they happen, and how you can structure some of the relationships to be legal. Arrangements for sharing or trading resources may seem efficient, but it may violate Section 8. Referrals, important in business relationships, can be a serious problem under RESPA - even if the referrals support a commercial loan to the developer. Get a solid understanding of what to avoid and how to support relationships and referrals legally.
The other hot RESPA item hasn't happened yet. HUD is moving again to revise the Good Faith Estimate and also authorize a Guaranteed Mortgage Package. In the program's final half hour, Griffin will give you an update on what HUD is doing and a summary of the proposed content of the GFE and GMPA. She'll discuss the industry's continuing concerns and flag issues that you may want to use in comments.
The program:
The common violations: a quick review of GFEs and HUD-1 errors
Section 8: when fees are justified and when they are violations
Section 8: the arrangements that lead to trouble
The GFE proposals and what they mean to you
Who should attend:
Real estate lending staff, Commercial lenders
Compliance, Audit, Quality Review
Note: the lenders can be excused after 90 minutes!
About the Speaker:
Lucy is Editor of Compliance Action and President of Compliance Resources, Inc., a company offering compliance support and services to banks. She is also a Senior Associate of Paragon Compliance Group, a company dedicated to providing compliance training. She has more than twenty-five years of experience working with regulatory agencies and financial institutions. Her extensive work experience with regulatory agencies includes the Federal Home Loan Bank Board, the Board of Governors of the Federal Reserve System, and the Federal Trade Commission. As the manager of the Compliance Division of the American Bankers Association, she worked directly with several of the association's banker committees and with regulatory agencies to identify compliance priorities, and to produce resources and programs.
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888-229-8872