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Securing Your Cyber Network: 3 Critical Actions webinar

Original Air Date: January 22, 2024


FREE WEBINAR for paid RESPA News Subscribers
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The title and mortgage industries are a target for cyber criminals and everyone needs to adopt methods to protect their cyber networks. As preventative measures have evolved so has the sophistication of the attacks. Three national experts will be coming together to share their advice on how to build layers of protection.

You will learn how to:

  • Build layers of protection
  • Actively monitor threats
  • Secure communications
  • Avoid organization and employee attacks based on specific examples
  • Plan 3 critical actions you need to take today!

No one is immune from an attack, but you can put preventative measures in place and learn how to respond if an attack takes place. Watch today to learn what you need to do today to protect your business tomorrow.

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Featured Speakers

Tom Cronkright

Tom Cronkright
Co-Founder and Executive Chairman
CertifID

Tom Cronkright is the Executive Chairman of CertifID, a technology platform designed to safeguard electronic payments from fraud. He co-founded the company in response to a wire fraud he experienced and the rising instances of real estate wire fraud. He also serves as the CEO of Sun Title, a leading title agency in Michigan. Tom is a licensed attorney, real estate broker, title insurance producer and nationally recognized expert on cybersecurity and wire fraud.

Stephen Dougherty

Stephen Dougherty
Financial Fraud Investigator
U.S. Secret Service – Global Investigative Operations Center

Stephen Dougherty has over 15 years of investigative experience. His career as a Financial Fraud Investigator, in support of the federal government, has played a pivotal role in criminal investigations surrounding cyber-enabled financial crime, money laundering, human trafficking, identity theft, healthcare fraud, embezzlement, tax/government program fraud, dark web crimes, among others. Stephen’s main area of expertise is combatting money laundering in all its forms. Aside from this, Stephen has been proactive in identifying new and future trends in the world of financial crime. Such trends include the cyber security nexus of financial crimes and its ever-growing relationship in major financial crimes such as Business Email Compromise and the rise of the dark web and the use of virtual currency as a vehicle for the facilitation of financial crimes. Stephen has been a leader and a mentor to other investigators teaching them how to uncover fraud internally and externally. Stephen is currently a Financial Investigator/Forensic Analyst assigned to the U.S. Secret Service’s Global Investigative Operations Center (GIOC).

Shawn Fox

Shawn Fox
Director of Sales and Marketing
Premier One

Shawn Fox is the Director of Sales and Marketing at Premier One. With almost twenty years of experience in the title industry, Shawn brings a wealth of knowledge to his role. He has played a key role in leading technology transformation and security hardening for title agents across the country. What sets Shawn apart is his unique background, having worked for both a title company and a software company within the title industry. His expertise in cybersecurity further enhances his contributions to the field.


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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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