OCTOBER RESEARCH STORE Already a subscriber? LOG IN
AddControlToContainer_DynamicNavigation5

Advertise
Add This     Email A Friend     Printer Friendly Version     Increase Text Size     Decrease Text Size

Targeted Advertising Opportunities in RESPA News…maximizing return on your advertising investment

RESPA News…The real estate services industry’s premier source for up-to-the-minute, relevant information. The BEST place to deliver YOUR advertising message.

RESPA News…

  • The only provider of 24/7 relevant information about RESPA.
  • The only source with links to the most knowledge sources. 
  • The only site that will remain relevant as the industry reshapes itself in the new market.
  • The only site providing advertisers with access to mortgage lenders, title companies, brokers, real estate agents and attorneys, with stories and features, categorized by profession.

RESPA News provides you the opportunity to reach an unmatched, uniquely targeted audience of top-level, executive decision-makers.  

These advertising options include:

Email Sponsorship Your banner or button is placed within a daily news update. Sent weekly to the e-mail list for the RESPAnews.com market, this is late-breaking news that is not included within the newsletter.

Direct E-Mail Marketing Push
Your exclusive ad is sent to the e-mail list for RESPA News market.

Advertising on RESPAnews.com
Your banner, button or billboard ad is placed on Home and/or Story pages and viewed by an average of a quarter of a million visitors who access the Web site 2-3 times per week.

Contact us today via e-mail or call 330-659-6101 x 317 and let us recommend an advertising program that achieves your marketing objectives.
PHH: A case about ‘Nothing’ and everything

more RESPA Tips »

Take our current Poll
How do you feel about the CFPB's RESPA resources and activities compared with its predecessor, HUD?




Your Comments:
View Results
View Comments

Monthly Newsletter

RESPA News Monthly
August 2018

Cover Story:

Kider: PHH ruling ends regulation by enforcement


 
Upcoming Webinar

Your TRID Questions Answered:
Featuring Richard Horn
With the TRID 2.0 implementation date approaching fast, find out from the expert himself what you not only need to comply, but what some of the other CFPB compliance concerns are as October 1 gets closer.
PUBLICATIONS  |  WEBINARS  |  SPECIAL REPORTS

Tweets from https://twitter.com/RESPANews/lists/around-the-industry
News by Topic   News by Edition   Library       RESPA Defined
Case Law
Congressional Hearings
Enforcement Update
Industry News
Legislation
Regulatory News
SAFE Act
The Week in Washington
TILA News
 
RESPA News Monthly
June 2018
RESPA News Monthly
July 2018
RESPA News Monthly
August 2018
Archives
 
Case Law
CFPB Guidance Documents
Enforcement Documents
Federal and State Legislation
Federal Register Notices
HUD's FAQ's - General
HUD's RESPA final rule FAQs
Model Disclosure Forms
 
 
Other Guidance Documents
Position Papers
Proposed Disclosure Forms
Proposed Rules and Regulations
Settlement Agreements
Special Reports
Statements of Policy
Studies and Proposals
Webinars
 
Timeline of revisions
Disclosure requirements
Prohibited practices
RESPA enforcement
Dodd-Frank Amendments
Current Issues
The RESPA Statute
    About   Subscribe   Store    
   
RESPA News
Contact / Editors
Advertise
Social Media
RSS Feeds
Are You An Expert?
Subscriber Agreement
 
Subscriptions
Free Email Updates
Try a Free Issue
 
 
Special Reports
The Summit (NS3)
Other Newsletters
The Title Report
The Legal Description
Valuation Review
Dodd Frank Upate
   
Copyright © 2005-2018 RESPA News
An October Research, LLC publication
3046 Brecksville Road, Suite D, Richfield, OH 44286
(330) 659-6101, All Rights Reserved
www.respanews.com | Privacy Policy
VISIT OUR OTHER WEBSITES
> Valuation Review
> The Legal Description
> The Title Report
> Dodd Frank Update
> The October Store
Loading... Loading...
12 USC Section 2605 or Section 6 is titled Servicing of mortgage loans and administration of escrow accounts. It pertains to qualified written requests, notices of transfer of servicing and the administration of escrow accounts.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under Regulation X, required use means a situation in which a person must use a particular provider of a settlement service in order to have access to some distinct service or property, and the person will pay for the settlement service of the particular provider or will pay a charge attributable, in whole or in part, to the settlement service.

However, the offering of a package or (combination of settlement services) or the offering of discounts or rebates to consumers for the purchase of multiple settlement services does not constitute a required use. Any package or discount must be optional to the purchaser. The discount must be a true discount below the prices that are otherwise generally
12 USC Section 2607 or Section 8 is titled Prohibition against kickbacks and unearned fees. It prohibits fees or kickbacks for referrals. It also prohibits accepting a portion of fee except for services actually performed. Section 8 provides information on what payments are allowed under this section and the penalties for violations.
12 USC Section 2608 or Section 9 is titled Title companies; liability of seller. This section states that a seller cannot require, as a condition of selling the property, that title insurance be purchased by any particular title company. Section 9 states that a seller who violates this section is liable to the buyer for treble damages.
12 USC Section 2609 or Section 10 is titled Limitation on requirement of advance deposits in escrow accounts. It governs escrow accounts including notifications and statements to borrowers. Section 10 also sets out penalties for those who violate the section.
Under RESPA, settlement service includes any service provided in connection with a real estate settlement. The statute provides a list of services.

Under Regulation X, settlement service means any service provided in connection with a prospective or actual settlement. The regulation provides an extended list of services as compared to the statute.
RESPA Section 3 provides that a thing of value includes any payment, advance, funds, loan, service or other consideration

Regulation X says thing of value includes: monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses or reduction in credit against an existing obligation.
A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form represents the closing transaction and provides each party with a complete list of incoming and outgoing funds. RESPA requires the HUD-1 to be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans.
Featuring:
  • Delivery 3X a week plus breaking news as it happens
  • Comprehensive title insurance industry news
  • Recent acquisitions, mergers, real estate stats
  • Exclusive in-depth coverage of the industry's hottest stories
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Comprehensive Dodd-Frank coverage
  • The latest information from the CFPB
  • Full coverage of Congressional hearings
  • Updates on all agency actions
  • Analysis of controversial provisions
  • Release of newest studies and reports
Sign up today and...
  • Be one of the first to know where NS3 is being held
  • Learn about NS3 speakers and sessions
  • Save on registration with Super-Early Bird rates
  • Discover the networking opportunities NS3 offers
  • Find out if CE credits will be offered for your area
  • And much more
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Preview the latest RESPAnews.com Top Story
  • RESPA related headline news
  • Quote of the Week
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Legal, regulatory and legislative information impacting the settlement services industry
  • News from HUD, Congress, state legislatures and other regulatory agencies
  • Follow the lobbying efforts of all the major national real estate services organizations.
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • The industry's only full-time newsroom
  • Relevant, up-to-date appraisal industry news
  • Covering the hottest stories and industry trends
NEWS BY TOPIC
NEWS BY EDITION
SPECIAL REPORTS
LIBRARY
EMAIL UPDATES
ABOUT
WEBINARS
SUBSCRIBE
All Rise
Case Law
Enforcement Update
Industry News
Legislation
Regulatory News
This Week in Washington
The TRID Journey
TILA News
Current Edition
July 2018
June 2018
May 2018
Archives
2018 State of the Industry
2017 Case Law Year in Review
2017 CFPB Anniversary Report
Lessons from Enforcement
Archives
RESPA DEFINED
Case Law
Disclosure Forms
Enforcement
Federal and State Legislation
Guidance Documents
HUD's FAQ's - General
HUD's RESPA final rule FAQs
Position Papers and Studies
Rules and Regulations
Webinars
Timeline of revisions
Disclosure requirements
Prohibited practices
RESPA enforcement
Dodd-Frank Amendments
RESPA Glossary
Current Issues
The RESPA Statute
Model Disclosure Forms
Proposed Disclosure Forms
Enforcement Documents
Settlement Agreements
CFPB Guidance Documents
Other Guidance Documents
Statements of Policy
Position Papers
Studies and Proposals
Federal Register Notices
Proposed Rules and Regulations
RESPA News
Contact Us
Advertise
Social Media
RSS Feeds
Are You An Expert?
Subscriber Agreement