HUD's New RESPA Regulations audio conference (W) CD + Special Report (price includes shipping in U.S.)

Product Details

A new proposal from HUD to streamline mortgage settlement regulations under the Real Estate Settlement Procedures Act (RESPA) will have a major impact on the entire mortgage industry.

The centerpiece of the proposal is a massive overhaul of the good-faith estimate to make it a more useful tool for comparing loan offers. The new form is four pages long and mandates disclosures for numerous fees and charges. The entire industry will be affected including lenders, brokers, homebuilders, title agents, and others.

In all there are 94 Federal Register pages of proposed changes that go beyond disclosures and could significantly alter the competitive balance in the mortgage market. What changes will you have to make to accommodate the new rules? Which actions will impact you most?

Find out directly from the Department of Housing and Urban Development what it expects from the industry, and then learn from two legal experts the ramifications of the proposed regulations and what it all will mean for your business.

Speakers for This Event Included...

• Gary M. Cunningham, Deputy Assistant Secretary for Regualtory Affairs, Department of Housing and Urban Development;
• Michael C. Flynn, General Deputy General Counsel, Department of Housing and Urban Development (Q&A session only);
• Phillip L. Schulman, Partner, Kirkpatrick & Lockhart Preston Gates Ellis LLP;
• Jay N. Varon, Partner, Foley & Lardner LLP;
and
• Guy Cecala, Publisher, Inside Mortgage Finance (moderator)

Listen to This Audio Conference and Learn About...

• The revised good-faith estimate and HUD-1 settlement forms.
• The new “closing script” requirement.
• Worries that HUD would prohibit markup of third-party fees, which would be a major concern of vendor management companies.
• The yield-spread premium disclosure requirement.
• Whether homebuilders and others will be barred from offering negotiated discounts because they are not viewed as settlement service providers.
• The disclosure about lenders’ secondary market fees.
• Concerns that an error on the new forms could open the door for lawsuits and result in potential losses.
• Other legal and compliance challenges you’ll face.
• Average cost pricing and volume-based discounts.