Wolters Kluwer Financial Services | Banking Compliance Solutions

Mortgage Changes in 2009 and Beyond—RESPA, Truth in Lending, and Home Ownership and Equity Protection Act

This has been a year of many changes for mortgage lending. There have been substantial legislative and regulatory changes that affect financial institutions and mortgage lenders. These changes will affect policies, procedures, and documentation for mortgage lending.

Wolters Kluwer Financial Services has prepared an informative recorded, online webinar that will provide an overview of mortgage lending changes for 2009 and beyond and share information specific to RESPA, Truth In Lending, and Home Ownership and Equity Protection Act.

The webinar covers the following topics:

RESPA Changes

  • Learn about the changes to the RESPA documents (GFE, HUD-1, HUD-1A, Settlement Cost Booklet, Servicing Disclosure Statement)
  • Learn about other major changes such as: fees at application, the origination charge, use of “average charge”, new fee “tolerances”, required use and cure provisions.

Home Ownership and Equity Protection Act

  • Learn about the new category of “higher-priced mortgage loans.”
  • Understand the four new key protections for borrowers engaged in “higher-priced mortgage loans” and how that affects your operations
  • Borrower’s ability to repay
  • Lender to verify borrower’s income and assets
  • Prepayment penalties banned under certain circumstances
  • Escrow account requirements

Additional Truth in Lending Changes

  • Learn about new appraisal requirements and the prohibitions on certain servicing practices
  • Understand new advertising standards
  • Additional information about adjustable rate mortgages

Register below for our 90-minute “Mortgage Changes 2009 and Beyond” webinar. Cost is $219, unlimited views will be granted for 30 days. Test your system before purchase.

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