WEBINAR: RESPA - An Overview and Analysis of New HUD Rules
Overview
Broadcast on:
| Tuesday, December 9, 2008, 2:00pm - 3:00pm (EDT) |
| Duration: | 60 minutes |
| Presenters: | Ivy Jackson, Director, Office of RESPA and Interstate Land Sales
Barton Shapiro, Deputy Director, Office of RESPA and Interstate Land Sales
Joseph M. Kolar, Partner, Buckley Kolar, LLP |
| On-Demand Fee: | $95 |
Webinar Registrants:
| PRESENTATION HANDOUTS (Login required) |
On November 17, 2008, the US Department of Housing and Urban Development issued lengthy new rules amending its regulation under the Real Estate Settlement Procedures Act (RESPA). New Good Faith Estimate (GFE) forms and HUD-1 forms will be required and new policies and procedures will be necessary to comply.
Among its many provisions, the final rule --
- Requires mortgage lenders and brokers to give consumers a standard GFE form, which includes settlement costs and loan terms
- Includes a yield spread premium disclosure required by HUD which takes a unique approach derived from consumer testing
- Imposes a requirement to guarantee certain settlement charges on the GFE - some with certain tolerances
- Allows lenders & settlement service providers 30 days from the date of closing to correct errors
Hear directly from the Department of Housing and Urban Development and legal experts on what changes have been made to the final rule, what changes you will need to make to comply and how it will impact the way you do business. You will learn:
- what legal and compliance challenges you'll face
- how to disclose points and origination charges
- how to disclose broker commissions under the new rule
- what charges you will have to guarantee and what tolerances apply
- how to cure a violation after closing and
- what provisions of the new rule go into effect on January 16, 2009.
Don't miss this special webinar hosted by Consumer Bankers Association.
Questions? Contact Aleks Maksic, CBA Registrar, (703) 276-1750.
Who Should Attend
Mortgage lenders, home equity lenders, compliance officers, legal counsel, retail counsel, marketing personnel, retail banking officers, originations and servicing personnel.
