Program Description:
This AIB course 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 its 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
from liability, protect their financial services
institutions, and, most importantly, protect the
consumers they assist in the home buying process.
After successfully completing this course, the student 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
Who Should Attend:
Any front-line staff in organizations that are subject to
RESPA requirements. General knowledge of consumer
and mortgage lending functions would be helpful.
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