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Evolving Lender Relationships 2022 webinar

Complimentary Webinar

Original Air Date: November 16, 2022

Join Wells Fargo and Amrock for the latest edition of Evolving Lender Relationships. Each year we bring you the most up to date guidance on what mortgage lenders expect from their title partners. Learn the technical capabilities they are expecting of their industry partners, their communication preferences and what consumers want during closings. Don’t miss this opportunity to get a step ahead of the competition and be the partner mortgage lenders rely on.

Together they discuss:

  • The lifecycle of the transaction
  • Security and avoiding fraud
  • Providing a seamless customer experience
  • Improvements in communication
  • The importance of returning to the basics
  • The digital ecosystem

Thank you to Qualia for sponsoring this complimentary webinar.

 

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The Legal DescriptionFeaturing national case law reporting and compliance coverage specifically for professionals in the title and settlement services industry, to help keep you informed and compliant.

RESPA NewsThe nation’s only publication dedicated to RESPA compliance to help keep you informed in an ever-changing regulatory landscape.

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Featured Instructors Moderator

Becky Nilsen
Vice President, Title and Settlement Services
Amrock

Becky Nilsen is the Vice President of Title and Settlement Services at Amrock, where she leads the teams that are responsible for delivering exceptional client service and a seamless closing experience. Since joining Amrock in 2009, Becky has held numerous roles, expertly leading teams in closing, post-closing and funding.

Her dedication and commitment to the Title and Settlement industry has made Becky a relied upon expert for multiple facets of our industry including eclosing, signing agent management, lender services, and operational leadership. In addition to her role as Vice President, she serves on the American Land Title Association (ALTA) Digital Closing Work Group Committee.

Outside the office, Becky cherishes family time with her husband, son and dog.

Kate Steineman
Senior Vice President - Business Execution Senior Manager, Home Lending Operations, Retail Operations Support Team
Wells Fargo Home Lending

Kate Steineman is Senior Vice President, Business Execution Senior Manager within the Title and Closing Operations team at Wells Fargo Home Lending. Her current teams have responsibilities within the title and settlement space; from the relationships with title underwriters, to managing title and settlement agent performance, title and settlement strategy, and managing the internal database of those agents who close Wells Fargo Retail transactions. She is also accountable for the team that supports strategic initiatives, procedure and process updates for Home Lending Operations. She has been with Wells Fargo for 24 years and has held positions in Sales, Sales Management, Vendor Management, Implementation, Risk, Customer Excellence, and her current role.

 

Jamie Kump
Director of High Growth Accounts, Enterprise Sales
Qualia

Jamie Kump is the Director of High Growth Accounts, Enterprise Sales at Qualia, where she is a strategic partner for technology enabled real estate companies looking for ways to bridge the gaps between their title, escrow, and mortgage operations. Jamie leverages her years of industry experience by helping these companies vertically integrate their real estate operations while elevating the consumer experience. Prior to Qualia, Jamie held roles at QuinStreet and Apio. Jamie graduated cum laude from California Polytechnic State University.


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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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