RESPA

On Demand Course

Instructor: Rebekah Leonard

Duration: 2 HR

What You'll Learn

RESPA is a huge law that covers many real estate settlement topics. However, it isn’t just a settlement rule – it also covers several servicing requirements. How many you must follow will depend on if you are a small servicer or a large servicer. Some, like Affiliated Business Arrangement disclosures, homeownership counseling, escrow rules, force placed insurance rules, error resolution, and certain loss mitigation requirements apply no matter your financial institution’s asset size.

Topics covered in this course

RESPA coverage and exemptions
Requirements before or at the time of loan settlement (beyond TRID), especially:

Affiliated business arrangement disclosure
Homeownership counseling list
Escrow account setup

Mortgage servicing requirements for the life of the loan, including:

Annual escrow account analysis
Force-placed hazard insurance
Servicing transfers and successors-in-interest (they aren’t the same thing)
Error resolution procedures
Early intervention and loss mitigation practices
A brief overview of additional “Large Servicer” requirements

*This course does NOT qualify, nor meet the National Standard for NASBA accreditation.

About the Author:

Rebekah Leonard

Rebekah is the owner of Elucidate LLC, a compliance training and consulting company. Elucidate means to "make clear, explain, throw light upon", and describes Rebekah's desire to illuminate the complexities of compliance with passion and fun. She's created and produced a TRID music video parody and several Compliance Breakout escape rooms, which she frequently provides at state banking compliance conferences. She is an accomplished speaker and regularly provides webinars through BOL and Compliance Resource. Rebekah is currently serving as the VP Director of Compliance for a $6 Billion community bank in Montana. She began her career in 1995 at a private lending company, but soon settled into banking, where she's covered nearly all of it - customer service and teller work, loan processing and review, and security and business continuity. She now oversees CRA, BSA and all aspects of compliance as a senior leader. She has successfully navigated numerous FDIC Compliance, CRA, and BSA Exams. Rebekah has a bachelor's degree in Organizational Leadership from Chapman University (Magna cum Laude), attended the American Bankers Association National Compliance School in 2003, and has held her Certified Regulatory Compliance Manager designation since 2006.

On-Demand Course