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Industry and Regulatory Outlook webinar

Complimentary Webinar

Original Air Date: December 14, 2021

Take advantage of this opportunity to hear from 2 leaders in title and mortgage lending on what to expect in 2022. With new leadership at the CFPB and increased adoption of technological tools, the transaction is changing and evolving every day. Learn how you can set up your business for success with senior vice presidents from The FNF Family of Companies and the American Bankers Association.

Together they discuss:

  • The changes to qualified mortgages and ability to repay regulations
  • Fair Housing guidance and expectations
  • RESPA
  • Loan Officer Compensation
  • Cybersecurity
  • The increased use and usefulness of lender integrations
  • Possible implications of M&A activity in the industry
  • And much more...

Thank you to Qualia for sponsoring this complimentary webinar.

 

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The Title ReportGet the latest from the nation’s only independent trade publication for the title and settlement services industry, educating and empowering professionals with competitive strategies to help grow your business.

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

Rod Alba

Rod Alba
Senior Vice President, Mortgage Finance and Senior Counsel
American Bankers Association

Rod Alba is Senior Vice President & Senior Regulatory Counsel in ABA’s Regulatory Compliance and Policy Division. Rod is responsible for oversight of residential real estate lending laws, regulations and other legal developments. Rod also manages legal and policy issues relating to commercial real estate lending, and is the principal staff on ABA’s Dodd-Frank mortgage-related implementation efforts. Rod serves as the ABA staff liaison to the Mortgage Markets Committee, responsible for policy formulation on issues affecting real estate finance.

Prior to ABA, he served as Legislative Counsel and Director of Government Affairs at the Mortgage Bankers Association, advising and coordinating on advocacy, regulatory compliance, and state and federal legislative efforts. Rod served as head of the MBA’s Regulatory Compliance and Legal Issues Committees, where he organized the advisory and advocacy activities of the industry’s legal and regulatory experts.

Before joining MBA, Rod was an attorney with the Department of Housing and Urban Development, in the Office of General Counsel, GSE/RESPA Division. As Senior Attorney for RESPA, Rod participated in the drafting and development of rules and administrative interpretations under RESPA and Regulation X.

Rod is a frequent speaker on panels and conferences relating to legal and regulatory developments in mortgage lending. In his experience with the mortgage industry, Rod has held roles in both public and private sectors. From 2004 to 2007, Rod served as Vice President for Federal and Regulatory Affairs with ACC Capital Holdings, in Washington, DC. In addition, Rod served as special projects counsel to National Council of La Raza, the largest Latino civil rights organization.

Rod has received numerous recognition awards in his years with MBA and HUD. Prior to that, Rod was recognized as a Congressional Hispanic Caucus Fellow, and served in a legal capacity in various federal administrative agencies. He serves as board member in non-profit organizations focusing on emerging market issues. His education includes a Juris Doctor (1993) from Syracuse University College of Law and a B.A. in Economics (1990) from the University of Maryland, College Park Campus.

 

Chuck Cain

Chuck Cain
Senior Vice President, National Agency Division
FNF Family of Companies

Chuck Cain has been in the Title Insurance industry since 1977. He is a graduate of The Ohio State University and the Salmon P. Chase College of Law at Northern Kentucky University. He is admitted to practice in Ohio and Kentucky, several Federal District courts and the U.S. Court of Appeals for the 6th Circuit. He is currently a member of the Government Affairs Committee of ALTA. He is former chair of the Real Property section of the Cincinnati Bar Association, a former director of the Cincinnati Mortgage Bankers Association, former trustee of Ohio Land Title Association, a member of the Federal Reserve Bank of Cleveland’s Fair Credit Task Force and a recipient of a special citation from the U.S. Department of Housing and Urban Development concerning Fair Housing Best Practices.

A native Cincinnatian, he has been a licensed title insurance agent for over 30 years, was an owner-operator of title agencies for 18 years and corporate officer with LandAmerica for over 10 years. He joined WFG as SVP in the Agency Division in August of 2010. He has spoken before many state land title associations, state and local bar associations, American Bar Association, MBA, ALTA, NAR, RESPRO, ACI Conference on Real Estate Finance Law, the National Settlement Services Summit, Title Radio, The Realty Alliance, Leading Real Estate Companies of the World and numerous other groups and classes on the topics of title insurance and compliance. His many articles have been published in state land title publications, numerous mortgage and title industry trade journals and in October Research publications. Having worked in all areas of the title industry and with its customers he brings a great depth of knowledge of all aspects of the real estate industry.

 

 

Matt Kaufman
Vice President of Marketing
Qualia

Matt is the Vice President of Marketing at Qualia, where he brings over 15 years of public and private professional services experience. He leads brand development, demand generation, communications, field events, as well as customer marketing. Matt joined Qualia after practicing law at leading global firm law firm O’Melveny & Myers, LLP and in the Asset Management division at Goldman Sachs. Prior to Qualia, Matt was an early employee and member of the leadership team at Legal Technology company RocketLawyer.com where he built the Legal Advice business unit and scaled the company’s Small Business Services unit. He has a career track record of empowering professional services providers to make their services more efficient to deliver in a modern and affordable way to their clients and partners.

Matt graduated from the University of Virginia in 2002 with a Bachelor of Arts degree in Psychology and earned his juris doctorate from Fordham University School of Law. Matt has been an industry speaker at events across the country including the HousingWire Engage.Marketing Summit, a summit for the housing industry's marketing innovators. While practicing law in New York, Matt earned the Empire State Council Award for his commitment to serving the local community through pro bono services.

 
 

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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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