OCTOBER RESEARCH
STORE
Already a subscriber?
LOG IN
AddControlToContainer_DynamicNavigation5
Library
The Road Ahead Post Pandemic special report
Posted Date: Thursday, April 8, 2021
What’s next for CFPB post pandemic? Many industry experts agree it is likely we are going to return to a more rigorous environment of CFPB investigations and enforcement. This special report examines the ways in which the bureau is likely to be more active than in recent years. Download your free copy to see what lies ahead.
Special Reports
2021 State of the Industry
Posted Date: Thursday, January 14, 2021
The pandemic has pressed the real estate industry to adapt and evolve. As we move forward in 2021, the industry will continue to face new challenges, new laws and regulations and an abundance of change. Download today for free courtesy of our sponsors, TrustLink and Qualia.
Special Reports
2020 Co-Marketing in the Age of Fintech special report
Posted Date: Wednesday, September 23, 2020
2020 has not only forced settlement service providers to embrace technology faster than anticipated, it’s also changed the way co-marketing is done. It may be difficult right now to justify traditional marketing opportunities now that in-person events have migrated to virtual ones, but digital marketing is the solution. In addition, the pandemic has not meant an end to more lucrative deals such as advertising agreements and affiliated business arrangements. Thanks to Qualia for sponsoring this free spec...
Special Reports
2020 CFPB Anniversary special report
Posted Date: Monday, July 20, 2020
According to industry experts the CFPB has mixed views on how focused the agency is on regulation and enforcement issues. The bureau is focusing on borrowers in distress who are in danger of losing their homes because of the pandemic and also providing guidance to mortgage servicers struggling to keep up with the demand for help. Our experts detail the CFPB’s impact on their industry and what lies ahead. Thanks to sponsor Qualia, the report is offered as a free download.
Special Reports
2020 eClosing Solutions Showcase
Posted Date: Wednesday, July 1, 2020
The eClosing Solutions Showcase is a handy industry search tool. It’s a quick and easy buyer’s guide to find the right technology solution to fit your business and make your job more efficient. Inside you will find the essential information to select your next business solution, such as product details, highlights and company contacts.
Special Reports
2020 Lessons from Enforcement Special Report
Posted Date: Tuesday, March 17, 2020
A lot has happened in the last year. The CFPB issues more than 20 enforcement actions, many focused on unfair, deceptive, or abusive acts or practices (UDAAP). The bureau appears to be serious about cracking down on bad actors in the mortgage servicing realm, too. This Lessons From Enforcement special report details the takeaways that can be gained from each consent order and lawsuit to keep your company and clients in compliance. Also, learn the latest on Seila Law’s case against the CFPB.
Special Reports
The New GSE Focus special report
Posted Date: Tuesday, February 11, 2020
As a new decade begins, and the regulatory impact of the Consumer Financial Protection Bureau on the industry eases, Fannie Mae and Freddie Mac have made their own moves forward in the marketplace, creating standards for the industry to follow. Learn more about this new regulatory focus for the industry. We take a deep dive in understanding the market, the GSEs’ impact on technology and eClosings, and much more, with expert insight from inside the agencies themselves. Download Today.
Special Reports
2020 State of the Industry
Posted Date: Tuesday, January 21, 2020
Our trusted industry contributors give us historical facts, opinion and predictions to help you navigate the changes that lie ahead this year. Learn more about their insights with the 2020 State of the Industry special report. Inside you will find highlights from the past year combined with forecasts to help you make more strategic and informed decisions in 2020. Download Today.
Special Reports
2019 Today's MSAs Special Report
Posted Date: Thursday, September 12, 2019
A viable form of income or a cautionary tale of disguised kickbacks for referrals? Maybe it's both. Marketing service agreements today go beyond the MSAs you grew to know for three decades. Today's MSAs provide growth potential for companies, but only if they are properly constructed and overseen. Find out the key insights you need in the new special report from RESPA News, Today's MSAs.
Special Reports
2019 CFPB Relaunched Special Report
Posted Date: Tuesday, July 23, 2019
The CFPB Relaunched special report provides you an inside look into the first six months of Director Kathy Kraninger’s term and what the next year has in store for the CFPB. Thanks to sponsor Qualia, the report is offered as a free download.
Special Reports
1
2
3
4
5
6
7
8
“The sale of a loan after the original funding of the loan at settlement is a secondary market transaction. Such a sale is exempt from RESPA coverage as a secondary market transaction."
more RESPA Tips »
Monthly
Newsletter
RESPA News Monthly
April 2021
Cover Story:
CFPB director nominee addresses mortgage market
Tweets from https://twitter.com/RESPANews/lists/around-the-industry
News by Topic
News by Edition
Special Reports
Webinars
Subscribe
All Rise
Case Law
Enforcement Update
Industry News
Legislation
Regulatory News
The Week in Washington
The TRID Journey
TILA News
RESPA News Monthly
March 2021
RESPA News Monthly
April 2021
Archives
State of the Industry
Co-Marketing in the Age of Fintech
CFPB Anniversary
Lessons from Enforcement
The New GSE Focus
Archives
Getting to Know Your Regulators
RESPA Section 9
Economic Forecast - Q1
Archives
Subscriptions
Free Email Updates
Try a Free Edition
Library
RESPA Defined
About
Store
Affiliated Compliance
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
Statements of Policy
Studies and Proposals
Timeline of revisions
Disclosure requirements
Prohibited practices
RESPA enforcement
Dodd-Frank Amendments
Current Issues
The RESPA Statute
RESPA News
Contact / Editors
Advertise
Social Media
Are You An Expert?
Subscriber Agreement
NS3 The Summit
Other Newsletters
The Title Report
The Legal Description
Valuation Review
Dodd Frank Upate
Copyright
©
2005-2021 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
>
Dodd Frank Update
>
The Legal Description
>
The Title Report
>
Valuation Review
>
The October Store
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.
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.
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
WEBINARS
LIBRARY
EMAIL UPDATES
ABOUT
SUBSCRIBE
All Rise
Case Law
Enforcement Update
Industry News
Legislation
Regulatory News
This Week in Washington
The TRID Journey
TILA News
Current Edition
February 2021
January 2021
December 2020
Archives
The Road Ahead Post Pandemic
2021 State of the Industry
2020 CFPB Anniversary Report
Co-Marketing in the Age of Fintech
Lessons from Enforcement
Archives
Hiring and Recruiting
Economic Forecast Series - Q1
RESPA Section 9
Getting to Know Your Regulators
Webinar Archives
RESPA DEFINED
Affiliated Compliance
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
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
Are You An Expert?
Subscriber Agreement