New RESPA Regulations for Mortgage Finance: Are You Ready?
Complying With the Sweeping Changes in Real Estate Settlement Procedures
New regulations now in effect - enforcement looms
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine the comprehensive new RESPA rules, essential implementation issues, and challenges/legal risks facing lenders, brokers and closing agents under these sweeping changes to RESPA.
- New HUD-1/1A settlement statements
- Cost of loan — comparison to GFE
- HUD guidance
- New Good Faith Estimate (GFE)
- Covered loans
- Key loan terms
- Closing costs — cost guarantee
- Revisions to GFE — changed circumstances
- Affiliated business relationships
- Obligations of mortgage brokers
- Impact on title companies
- HUD Guidance
- Key compliance challenges
- Disclosure issues
- Changes in terms
- Curing potential violations
- Enforcement and penalties
- “Good faith” compliance efforts
The panel will review these and other key questions:
- What are the key changes to the HUD-1 statement?
- What constitutes "changed circumstances" that allow revisions to the GFE?
- What are affiliated business relationships and how are they regulated?
- How will HUD evaluate a lender's "good faith efforts" to comply with the new rules?
- How do the RESPA rules affect mortgage brokers and closing agents?
Richard J. Andreano
Patton & Boggs
He offers clients nearly 25 years of experience and a thorough understanding of issues facing the financial services,... | Read More
He offers clients nearly 25 years of experience and a thorough understanding of issues facing the financial services, mortgage banking and consumer finance industries. He advises lenders, brokers, title companies, real estate professionals and other settlement providers regarding regulatory compliance and transactional matters, FHA issues, and administrative enforcement actions and investigations.Close
Donald E. Partington
Executive Vice President, Legal and Strategic Affairs
Fidelity National Title Group
He is responsible for coordinating the company’s strategic product and process development and has been a counsel... | Read More
He is responsible for coordinating the company’s strategic product and process development and has been a counsel in the title insurance industry since 1978. He is a member of ALTA’s Task Force on RESPA Reform and Implementation and has made presentations at HUD, Congressional panels and the OMB on RESPA. He is a frequent lecturer on real estate issues for the ABA and state bar associations.Close