Section 8 of the Real Estate Settlement Procedures Act (RESPA) prohibits unearned fees and kickbacks. Over the years the Department of Housing and Urban Development (HUD) issued hundreds of enforcement actions involving Section 8.
In 2011 authority for enforcing RESPA transferred from HUD to the Consumer Financial Protection Bureau (CFPB). During CFPB's reign the volume of Section 8 actions has dropped. While enforcement actions under the CFPB have been fewer in number, the dollar amounts have been jaw dropping. The settlements of these actions range from a few thousand dollars to many millions of dollars. Failure to comply with Section 8 can lead to jail terms in addition to the penalties.
Highlights Attend this webinar to gain a better understanding of:
CE Awarded 2 hours CRCM/CLBB (self-reporting)
Audience Loan officers, compliance officers, loan processors and clerks, auditors and anyone else responsible for federally related mortgage loans.
Speakers Jack Holzknecht, CRCM, is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 40 years. He has developed and presented training programs to bankers in 43 states. He also developed and delivered training for the FDIC for ten years.
Kelly M. Owsley, CRCM, is Director of Training Services for Compliance Resource, LLC, Kelly’s career in banking began in 2000. Since then she has worked for financial institutions ranging in asset size from $250 million to $3 billion.
MBA Member Price: $275
On-Demand Price: $295
What is a Webinar? A webinar is an online seminar featuring audio, PowerPoint and other interactive features. The program may be viewed on most devices. No special hardware is needed; however, speakers or headphones are required. The program consists of 105 minutes of instruction and 15 minutes live Q&A. Each Live Webinar registration provides one connection to the webinar, materials and access to the On-Demand Webinar for 30 days. You may have unlimited listeners on your connection.
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