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Conference Coverage

Zillow executive among NS3 headliners

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Conference Coverage
Monday, August 31, 2020
It’s safe to say that the 16th version of the National Settlement Services Summit (NS3) will be unlike any before. So it is fitting that the show is headlined by Zillow’s first appearance as a speaker at NS3.

Ryan Berry, the senior vice president, central operations at Zillow Group, keynotes NS3, which runs Sept. 1-3 and will be conducted virtually for the first time. He will be joined by Fannie Mae Chief Economist Douglas G. Duncan and Department of Housing and Urban Development Deputy Secretary Brian Montgomery as featured speakers on the agenda.

Berry is in charge of Zillow Offers, as well as Zillow Closing Services, the title and escrow division of the company. He will discuss the creation of Zillow Offers, and how the company built the iBuying arm after listening to its customers. He also will discuss innovation across the real estate transaction and the launch of Zillow Closing Services.

Berry kicks off the first day of sessions, which will be followed by Cybersecurity and Innovation track concurrent sessions. This year’s program features three tracks, with a Compliance track, sponsored by Stewart, joining Cybersecurity, sponsored by Anderson Biro, and Innovation, sponsored by WFG National Title.

On the first day, sessions including a presentation from the Federal Trade Commission as well as a digital lender panel. The first day’s sessions close with a state regulator panel, which will be moderated by Westcor CEO Mary O’Donnell. The panel includes representatives from regulators in Colorado, Missouri, Pennsylvania and Virginia.

Attendees then will adjourn for three networking events. The annual Make a Child Smile community service event, sponsored by Adeptive Software, is highlighted by a conversation with Toys for Tots President and CEO retired USMC Lt. Gen. James B. Laster.

This year’s Opening Night Reception, sponsored by Qualia, Realtor.com and Westcor, will include a tour of the Cleveland Whiskey distillery.

The night finishes with the Networking Nightcap, sponsored by NATIC, which will feature a Name That Tune quiz show highlighting music from the 1980s.

The second day begins with Duncan providing an economic forecast which will include updates on the housing and mortgage markets. October Research Publisher and CEO Erica Meyer then will present the annual October Research Awards to the winners before breaking into concurrent sessions featuring all three tracks.

Included in the Day 2 content is a panel on iBuying, a session addressing remote closings, and a session including NS3 staple Phil Schulman on RESPA compliance.

The sessions close with the biggest underwriter panel in NS3 history, featuring seven of the largest underwriters in the country discussing some of the hottest topics in the title industry.

After the panel wraps up, attendees will head to our Networking Reception, sponsored by SoftPro, where they will be treated to a special interview and Q&A session with HGTV star Tarek El Moussa of Flip or Flop.

The final day begins with a Networking Breakfast, sponsored by RESPRO and hosted by RESPA News editor Tracey Read, who will lead a casual discussion with RESPRO President and Executive Director Ken Trepeta and attorney Brian Levy.

Our annual lender panel starts the sessions, with representatives of Bank of America, Thrive Mortgage and Wells Fargo discussing their work with title and settlement agents.

Concurrent sessions follow, leading up to a presentation and Q&A with Montgomery, who returns to NS3 after taking the stage in 2019.

The show closes with Craig Haskins of Knight Barry Title and David Townsend of Agents National Title teaming up for a live That Floats podcast.

In all, 57 speakers will share their education across 23 sessions to an expected crowd of nearly 500.

Today's other top stories
Freedom Mortgage kicks off Rucksacks to Backpacks fundraising campaign
HUD announces new leadership appointments
Class action suit filed against HUD over withheld FHIP funds
FHA releases policy retractions for single family-mortgage insurance
House amends, passes ‘trigger lead’ legislation


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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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