Product Details
Held December 17, 2008
- An audio CD so you can listen to the entire discussion, including Q&A with experts, HUD officials and industry leaders;
- The conference manual, which includes a program outline, speaker bios, presentations, and contact information plus value-added articles from the pages of Inside Mortgage Finance;
- A full transcript, including the audience Q&A sessions—a favorite part of these events.
The final RESPA rule represents the first major update of the Real Estate Settlement Procedures Act requirements in 30 years. Learn about the changes made to the proposed rule and what it means for the mortgage market from this Inside Mortgage Finance audio conference.
Mortgage and housing industry players—not to mention many lawmakers—urged HUD to abandon its current RESPA rulemaking effort and start all over. But HUD insisted on finalizing a rule based largely on the original controversial proposal. Are the final changes enough to satisfy opponents? And will some industry interests move to challenge or kill HUD’s new RESPA pronouncement?
The entire industry must comply with the final rule including lenders, brokers, homebuilders, title agents and others. What changes will you have to make to comply with the new rule? Which requirements 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 new rule and what it will mean for your business.
Hear From These Legal and Market Experts:
- Gary M. Cunningham, Deputy Assistant Secretary for Regulatory Affairs, HUD;
- Joseph M. Kolar, Partner, Buckley Kolar LLP;
- Phillip L. Schulman, Partner, K&L Gates LLP;
- Douglas C. Webb, VP General Counsel, CitiMortgage; and
- Guy Cecala, Publisher, Inside Mortgage Finance, will moderate.
Listen to This Audio Conference and Learn About:
- A shorter good faith estimate form than first proposed.
- Originators have the option of not completing the tradeoff table on the GFE form.
- A revised definition of “application” that eliminates the separate GFE application process.
- Inclusion of a provision allowing lenders time to correct certain disclosure violations.
- A revised HUD-1 settlement statement that summarizes estimated closing and final closing costs.
- New requirement to list final loan terms.
- Simplified use of an average pricing mechanism.
- No regulatory change in negotiated discounts, including volume-based discounts.
- The required disclosure of yield-spread premiums.
- Legal and compliance challenges you’ll face.
- Certain provisions of the final rule that take effect on January 16, 2009.