“The First Ten Days” RESPA Training on Monday, January 11, 2010
By popular demand, we are scheduling another RESPA Marathon. Called the “First Ten Days” we thought it would help our clients if we talked about “implementation challenges” and strategies after you’ve begun taking applications.
Here are some testimonials from our December 8th RESPA Marathon:
“We have attended 3 or 4 different seminars and this is by far the BEST.”
“Mr Cruise is a very well spoken, concise trainer.”
“Chris is great. Good job.”
“Can you schedule another for our LO’s ASAP.”
“Absolutely great seminar. What was really great was that the questions and answers brought up additional questions.”
Christopher Cruise, a nationally-known RESPA expert & trainer will be presenting live from Bankers Advisory’s offices in Belmont MA on Monday, January 11th from Noon to 4 p.m. There will be a half hour break and live Q&A.
Registration is $350 “per phone line” and you may assemble any number of employees in one conference room. To register, please email anna@bankersadvisory.com for a registration form, which can be completed and faxed to our office.
Upon registration, you will be e-mailed all educational materials which may be printed and/or distributed throughout your organization.
Regards,
Anna DeSimone
WEBINAR TRAINING SCHEDULE
12 Noon to 2 p.m. (EST) The Good Faith Estimate
– Difference between the old GFE and the new 3-page GFE
– Line-by-line explanation of the GFE sections
– Illustrations of various scenarios of Lender Charges (Box A)
– Illustrations of various scenarios of Other Charges (Box B)
– Explanation of the Zero tolerance & 10% tolerance
– Why you can’t create a GFE addendum
– Why seller-paid closing costs are not on the GFE
– How you can provide certain info to borrowers and why you should
– Changed Circumstances – various scenarios explained
– How to use the Trade-off Table or Shopping Cart
– When & why you can or cannot issue a revised GFE
2:00 – 2:30 p.m. Break
2:30 P.M. to 4:00 P.M. HUD Settlement Statement / Live Q&A
– Difference between the old HUD and the new 3-page HUD
– Line-by-line explanation of each revised section
– Illustrations of various scenarios of HUD-1, Page 1
– Illustrations of various scenarios of Lender Charges
– How to characterize third party fees in Section 800
– Illustrations of various scenarios of Other Settlement Charges
– How to complete the Comparison of the GFE & HUD on Page 3
– How to complete the Loan Terms on page 3
– The New Settlement Costs booklet
– How long do you have to “cure” a violation after closing
– What “relaxed enforcement” means
Handouts will include updated HUD FAQs in an easy-to-reference format.
About the Trainer
Christopher Cruise is a nationally-known, Washington, DC-based compliance trainer specializing in RESPA. He reports from Capitol Hill for mortgage trade publications and has been quoted in The Wall Street Journal, Reader’s Digest, Bankrate.com and The Washington Post, among others. He has been studying and teaching RESPA for almost twenty years and has attended or participated in dozens of webinars and classes on the new RESPA Reform Final Rule in the past year. He has written a number of columns about the rule for such publications as The Scotsman Guide and RESPANews.com and has closely followed the progress of the rule both at HUD and on Capitol Hill.
Anna DeSimone founded Bankers Advisory in 1986 and is a nationally recognized authority in residential mortgage lending. She has received numerous industry awards and has authored more than 40 best practices guides and hundreds of articles.
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