It is here! The Consumer Financial Protection Bureau (CFPB) has released its final rule on the integrated mortgage disclosures under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). RESPA News and Dodd Frank Update have teamed up to provide you with two training webinars that will provide in-depth instruction on the impactful provisions of the regulations. The webinars together are designed to inform you on what you need to know now, so you are in compliance when the rule takes effect.
In Part 1 of the webinar series, renowned RESPA experts and mortgage attorneys Phil Schulman and Holly Spencer Bunting, of K&L Gates, provided 90 minutes of instruction on:
- A breakdown of the regulation and training on the various sections;
- Significant changes from the 2010 RESPA reform and the effects of this reform on the industry;
- The new Loan Estimate and Closing Disclosure forms;
- The top 10 takeaways of the final rule;
- The responsibilities of the loan originator, mortgage lender and closing agent; and
- A Q&A session for your specific questions.
Everyone who has a stake in residential real estate transactions will need to have an in-depth understanding of both the Loan Estimate and Closing Disclosure forms and the accompanying regulations. This requires training, retooling and systems upgrades. But don't fret. Take action now. Learn about this final rule from the nation's most highly respected mortgage and settlement services attorneys. Take this instructional training and you will come out knowing the regulations and having great insight into the impactful areas affecting you and your business partners.
Partner, K&L Gates
One of the nation's most widely respected and most recognized RESPA attorneys, Phil Schulman's national practice focuses on real estate finance and mortgage banking, with specialties in the Real Estate Settlement Procedures Act, Truth in Lending Act and administrative and regulatory compliance matters.
He represents companies in the mortgage lending, title insurance and real estate industries in connection with administrative and regulatory compliance matters; defends companies in connection with governmental audits, investigations and enforcement proceedings; develops and analyzes proposed business plans, and drafts the related agreements and disclosures, based upon applicable federal and state laws, regulations and rules; and assists in litigation involving consumer class action lawsuits and commercial claims.
Phil is the former general counsel to the Home Improvement Lenders Association and was the former assistant general counsel of the Inspector General and Administrative Proceedings Division, U.S. Department of Housing and Urban Development.
Holly Spencer Bunting
Partner, K&L Gates
Holly Spencer Bunting is a partner in the Washington, D.C., office of K&L Gates. She practices in the areas of mortgage banking and consumer finance, and concentrates on issues of federal and state regulatory enforcement.
Bunting represents companies in the mortgage lending, title insurance and real estate industries in connection with regulatory compliance matters and defends clients subject to government audits, investigations and enforcement proceedings. Her practice also includes advising clients about federal and state consumer credit and protection laws and regulations, including the Real Estate Settlement Procedures Act, and reviewing and analyzing existing and proposed business arrangements for compliance with federal and state requirements.
Vice President & National Agency Counsel
WFG National Title Insurance Company