Real Estate Settlement Procedures Act helps students identify activities, disclosures and specific job responsibilities that are required by the Real Estate Settlement Procedures Act (RESPA), one of the many consumer protection laws that govern financial institutions and mortgage lenders. After an overview of the history of the law, its purpose, and the extent of it coverage, the course identifies the eight RESPA disclosures required at different stages of the home buying process and provides examples of each form. After completing this course, students will be able to protect themselves, their financial services institution, and, most importantly, the consumers they assist in the home buying process.
| Price |
$130 Nonmembers / $95 Members |
| Course Credits |
AIB: 0.25 ; ICB: 5.0 (CRCM, CLBB) |
| Prerequisites |
None |
| Required Software |
None |
| Optional Software |
Adobe Acrobat Reader and RealPlayer |
Audience
Bank personnel involved in the lending process, including mortgage, consumer and small business lenders, loan processors and loan servicers.
Learning Objectives
After completing this course, students will be able to:
- Describe the purpose of RESPA
- Identify the eight disclosures required by RESPA
- Identify activities prohibited by RESPA
- Describe the escrow account procedures set forth by RESPA.
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