Speaker: Carl Pry, Senior Director of Treliant Risk
About the Program
RESPA is undergoing many changes. We’ve had final rules
regarding servicing requirements, mandatory homeowner counseling, and in
many other areas of the regulation. In the meantime, we have to manage
with what we have when it comes to disclosures, even though we’ll
have new final rules there, as well. In this session, we'll discuss the
current as well as future requirements, 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 and also talk about how various types of charges must be
disclosed, including how they impact tolerances.
Additionally, the new servicing rules will be detailed, as well as
provide a primer for the new disclosures and what to expect.
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:
Meeting the definition of "application" - How can this help you?
When do you have to provide a GFE? How will this change with impending
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 - How to manage refunds.
Details on the servicing rules (hint: big-time policies and
procedures) and counseling requirements