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 2, renowned RESPA experts and mortgage attorneys Phil Schulman and Holly Spencer Bunting, of K&L Gates, will dive deep into the forms and offer line-by-line instruction for various loan types. They will provide specific instruction on real-life examples. The two will also be on hand to answer specific questions participants may have regarding line items on the forms.
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.
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.
Senior Vice President, Agency Manager, Midwest
WFG National Title Insurance Company
Chuck Cain is senior vice president, agency manager, Midwest, for WFG National Title Insurance Co. Chuck has been in the title insurance industry since 1977. He is a graduate of The Ohio State University and the Salmon P. Chase College of Law at Northern Kentucky University. He is admitted to practice in Ohio and Kentucky, several federal district courts and the U.S. Court of Appeals for the 6th Circuit. He is former chair of the Real Property section of the Cincinnati Bar Association, a former director of the Cincinnati Mortgage Banker's Association and a recipient of a special citation from the U.S. Department of Housing and Urban Development concerning Fair Housing Best Practices.
A native Cincinnatian, he has been a licensed title insurance agent for over 25 years and was an owner-operator of his own agency for 18 years. He has spoken before the American Land Title Association, Ohio Land Title Association, the Indiana Land Title Association, the Michigan Land Title Association, the Missouri Land Title Association, RESPRO, the National Settlement Services Summit, Title Radio, and numerous other groups and classes on the topic of title insurance and compliance. He is also the president of consulting firm Alliance Solutions, LLC.