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2022 Best Practices special report

Posted Date: Thursday, May 5, 2022
Best Practices is more than a catch phrase. At some companies, it’s the way business is conducted every day. Fortunately, companies looking to deploy the industry’s best practices do not need to recreate the wheel. Rather, they can study and duplicate how others are succeeding. Thanks to our sponsor, SoftPro, this report is available as a free download.
Special Reports

Enforcement Lessons special report

Posted Date: Wednesday, February 23, 2022
Although the focus now is on unfair and deceptive acts and practices, there are still takeaways from each consent order and lawsuit when RESPA enforcement is concerned. Download your copy to discover more in the new special report Enforcement Lessons from RESPA News .
Special Reports

Mergers and Acquistions special report

Posted Date: Wednesday, February 2, 2022
Mergers, acquisitions, and consolidations are par for course in the title industry. There is a rhyme and reason why some agencies are highly sought after. In our comprehensive special report, top industry experts explain issues which are vital to companies either being targeted for acquisition or looking to grow through acquisitions. Download your free copy, thanks to sponsors Title Success and Stewart, to discover insights, trends and opportunities concerning M&As.
Special Reports

2022 State of the Industry

Posted Date: Friday, January 14, 2022
A new year brings different challenges, some forced by changing market forces which some experts believe will usher in higher interest rates and moderate home sales. The Biden administration’s regulatory focus also bears watching. Download today for free courtesy of our sponsors, TrustLink and Qualia.
Special Reports

Real Estate Compliance Outlook special report

Posted Date: Tuesday, July 20, 2021
The Consumer Financial Protection Bureau under the Biden administration promises to be more active than it was under the Trump administration. Most likely, this increased activity will translate into more scrutiny of fair lending practices and possibly remedial actions to undo historical practices which led to unequal results for many demographic groups. Download your free copy, courtesy of sponsor Qualia.
Special Reports

Fair Lending special report

Posted Date: Monday, June 14, 2021
The consequences for fair housing and lending violations include discrimination charges/lawsuits, the conciliation process, fines/settlements, cease and desist orders, reputational harm and forced policy changes. You can’t operate in this space without knowing best practices to avoid unintentional biased outcomes, especially as state and federal regulators target systematic problems related to historic redlining and other discrimination. Our special report is a great starting point. Download your free c...
Special Reports

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, courtesy of sponsor RamQuest, 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
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“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."

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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.
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