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RESPA: Ensuring Fintech Partner Compliance webinar

Original Air Date: February 27, 2024


FREE WEBINAR for paid RESPA News Subscribers
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Creating and maintaining a compliance management system is critical and many are using fintech tools to stay compliant. Regulators are increasing their scrutiny of financial service organizations and these fintech companies. Learn the checks and balances you can use to ensure your partners are complying with industry regulations.

eaders from FNF Family of Companies and Mortgage Connect share the factors you need to take into consideration, including:

  • A brief overview of fintech and artificial intelligence (AI).
  • Lessons learned from the Amazon AI case and First Federal Bank settlement.
  • Strategies to ensure partners follow through on their stated compliance protocols.
  • And much more...

Learn how to identify what you need from your partners. Watch today.

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Featured Speakers

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 a past trustee of the Ohio Land Title Association and is a current 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, 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 35 years, was an owner-operator of title agencies for 18 years and corporate officer with LandAmerica for over 10 years. He was EVP of Agency at WFG National Title for 10 years. He joined FNF as SVP in the Agency Division in August of 2020. He has spoken before many state land title associations, state and local bar associations, MBA, ABA, ALTA, NAR, RESPRO, the National Settlement Services Summit, 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.

Gabe Minton

Gabe Minton
Executive Vice President, Chief Information Officer
Mortgage Connect

Mr. Minton serves as Mortgage Connect’s Chief Information Officer and is the Executive Vice President of Information Technology. In this role, he provides leadership and vision for the technology and information strategy, including the development of next generation digital platforms to facilitate a seamless experience between the consumer and lender and to maximize operational efficiencies. Mr. Minton has more than 25 years in leadership roles with mortgage and technology companies, with a focus on developing software systems, products and standards. Throughout his career, he has led strategy and execution, communications and vendor relations. Most recently he served as chief information officer at Guild Mortgage, where he led its technology and information strategy, including business systems, architecture, infrastructure and product and services technology. Mr. Minton also served in senior management, strategy and technology positions with PHH Mortgage, BlackKnight/ServiceLink, Motivity Solutions, Accenture Mortgage Cadence and the Mortgage Bankers Association. He was one of the leading architects and founding members of MISMO, the Mortgage Industry Standards Maintenance Organizations (a subsidiary of the MBA). He earned a B.S. with a double-major in computer science and statistics, and minor in mathematics from Radford University in Virginia, and a Master of software engineering degree from the University of Maryland.


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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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