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Compliant Marketing Tactics webinar

Complimentary Webinar

Original Air Date: September 21, 2023

Regulators on every level are increasing their oversight on the marketing tactics of those in the title insurance and mortgage lending industries. How can you keep up? Join these two nationally recognized legal minds as they share their insights on what regulators are looking for and how you can stay compliant.

Together they cover:

  • The compliant use of consumer data
  • The use of targeted marketing
  • Recent caselaw
  • Fair lending and marketing
  • Appropriate monitoring of your marketing efforts

Learn what you need to take into consideration before you decide on the best approach for your company.

Thank you to SoftPro for sponsoring this complimentary webinar.

 

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Featured Instructors Moderator

John Levonick
Senior Partner
Garris Horn LLP

John V. Levonick is a seasoned Attorney who focuses on consumer finance, capital markets, and technology.

With insight gained from years of experience as External Counsel, Chief Executive Officer, General Counsel and Chief Compliance Officer, John understands the dynamic and everchanging consumer finance and technology markets. He has extensive experience advising originators, servicers, investors and third party service providers regarding mortgage lending and regulatory compliance.

John has advised heavily regulated clients on a wide variety of transactional matters relating to asset purchase and sale agreements, RMBS issuances, information technology, licensing and master service agreements, software as a service (SaaS), cloud computing (IaaS), cloud services (PaaS), website development and terms of use, cybersecurity, privacy, and vendor management.

John has worked with banks, lenders, servicers, federal and state regulators, trade organizations and nationally recognized statistical ratings organizations in creating policy, defining risk, and translating complex regulatory requirements into practical, technology driven business solutions, that have become the basis for many established origination, servicing, loan acquisition and securitization practices in the U.S. With a passion for solving complex consumer finance challenges, John looks to continue to serve to the consumer finance and technology industries as part of Garris Horn.

John is a nationally recognized speaker on emerging technology, consumer finance and mortgage lending, regulatory compliance, securitization and the capital markets.

Nanci Weissgold
Partner
Alston & Bird

Nanci, an American College of Consumer Financial Services Lawyers Fellow, maintains a national regulatory compliance practice representing consumer financial products and services providers on federal, state and agency requirements, including valuation and mortgage lending and servicing. Her pragmatism preparing for, and responding to, CFPB, FHA, state and other administrative actions is valued.

Leslie Wyatt
Director of Regulatory Compliance
SoftPro

Leslie Wyatt is the Director of Regulatory Compliance at SoftPro. She began her career in the real estate industry over 20 years ago, and joined SoftPro in 2002. She currently oversees the Compliance Department with her primary focus being on regulatory issues at the Federal, state and county levels.

Leslie is a member of the ALTA Implementation Task Force, the Title Action Network Steering Committee, the ALTA Government Affairs Committee, the ALTA Membership Committee, the ALTA Education Committee and the TLTA Federal Issues Committee. She has represented ALTA at a congressional briefing regarding the CFPB and the TRID changes. Leslie travels though out country speaking on our industry’s hot topics with a focus on regulatory and compliance. Leslie continuous to work with the CFPB on various projects regarding TRID, UCD, MISMO and other industry hot topics.


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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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