Mortgage Industry News

Titan Lenders Corp is now offering a webinar series focused on real world application of RESPA changes to the GFE and HUD-1.

Beginning March 9, the Webinar will be held bi-monthly on Tuesdays at 1:00 pm EST (subsequent webinars are scheduled for March 23, April 6 and April 20). Titan’s RESPA compliance training has been developed from the operations perspective, providing both factual and practical information for working with GFE and HUD-1 borrower disclosures.

Training Summary

• New RESPA terminology
• When to re-disclose
• Understanding “Changed Circumstances”
• Understanding Tolerance Measurements
• Understanding “Important Dates”
• Inside columns, outside columns, what do they mean?

This class is designed for anyone who works directly with GFE’s and/or HUD’s, including loan originators, processors, underwriters, closers and post closers.

Sign up or find more information atwww.TitanLendersCorp.com/GFE-HUD-training-webinars.htm.

Mary Kladde comments on the RESPA Home Mortgage Disclosure Rule’s affect on loan closing speeds and the mortgage industry in today’s American Banker: “Respa Rule Delays Many Mortgages, Torpedoes Others.”

“It’s just mass confusion,” said Mary Kladde, the chief executive of Titan Lenders Corp., a Denver back-office fulfillment provider. “There just wasn’t enough thought that went into the regulations before they were put into place.”

“Under the Real Estate Settlement Procedures Act rule, certain fees cannot be more than 10% higher in the settlement statement (known as the HUD-1) presented to the borrower at the closing table than they were in the good-faith estimate; otherwise the lender has to eat the difference.

“Lenders and third-party settlement providers acknowledge they are listing the highest fees possible to avoid being penalized.”

Access the full article at AmericanBanker.com!