Authors: James H. Pannabecker, Esq. and David McF. Stemler, Esq.
Format: 3-ring binder & CD
Frequency:
2 updates annually
Price: $499
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Totally Updated with Complete Coverage of HUD’s FINAL RESPA Ruling!
Real estate lenders need to know how to comply with all the requirements under the revised Real Estate Settlement Procedures Act (RESPA) and Regulation X.
Pratt’s RESPA Manual details ALL REVISED and current compliance requirements under RESPA and Regulation X. You’ll get in-depth coverage of HUD’s important changes, including:
- The new uniform GFE form with requirements and terms
- The new definition of the term “application” that gives clarity to the perennial question “when do we have an application?”
- New fee prohibitions
- Specified tolerances for many of the amounts disclosed on the GFE, and an opportunity to cure violations of the tolerances
- Revised HUD-1/1A uniform settlement statement forms and regulations
- Approval of average pricing arrangements
- The revised definition of the term “required use”
Now is the time to begin to review and change your forms to be in compliance!
With the implementation date of January 1, 2010 for the provisions relating to GFE and HUD-1/1A forms now is the time to start to update your forms and get acquainted with the new requirements. This means that forms have to be replaced and new brochures written, websites updated and more.
Complete up-to-date coverage of ALL RESPA compliance issues
The RESPA Manual is not limited to just covering the new rules, it also includes complete up-to-date coverage of all RESPA compliance issues, including:
- Good faith estimates
- Broker fees
- Volume-based compensation
- Secondary market compensation
- Escrow account rules
- Gifts to settlement service providers
- Initial and closing disclosures
- Enforcement provisions
- Title companies
- Mortgage servicing transfers
- Employer-employee compensation
- Computer loan origination systems
- Controlled business arrangement disclosures
- Sham controlled business arrangements
- Rental of office space
- Lock outs
- Retaliation
The Manual also covers recent enforcement actions and court decisions focused on captive title reinsurance, yield spread premiums, kickbacks and referral fees, affiliated partnerships, “required use” requirements, markups, overcharges, unearned fees, builder closing cost credits, and escrow cushions.
About the Authors
James H. Pannabecker writes from Natural Bridge Station, Virginia, focusing on banking law and regulatory compliance. He was formerly a senior vice president and general counsel of Citicorp Mortgage, Inc., where he managed the provision of legal services for the nationwide origination of mortgage loans through Citicorp’s affiliated first mortgage lenders. Before joining Citicorp, Mr. Pannabecker served as in-house counsel to Maryland National Bank, First Virginia Banks, Inc., and First American Mortgage.
Mr. Pannabecker is the author or co-author of numerous publications in the areas of mortgage lending, truth-in-lending, financial privacy, and banking law. These include Mortgage Compliance Update: Solutions for Mortgage Professionals (A.S. Pratt & Sons); The RESPA Manual: A Complete Guide to the Real Estate Settlement Procedures Act (A.S. Pratt & Sons); Mortgage Lending Compliance with Federal and State Guidance (A.S. Pratt & Sons); Model Compliance Manual: A Template for Mortgage Professionals (Sheshunoff Information Services); Mortgage Lending Operations and Administration (Sheshunoff Information Services); and The Truth-in-Lending Manual (A.S. Pratt & Sons). He graduated from the University of North Carolina School of Law in 1978 and has been admitted to practice law in the District of Columbia, Georgia, Maryland, Missouri, North Carolina, and Virginia.
David McF. Stemler is an author/editor of Pratt’s Letter, Pratt’s Federal Advertising and Marketing Law Guide, Pratt’s Federal Fair Lending and Credit Practices Manual, and Pratt’s RESPA Manual as well as Pratt’s Bank Law & Regulatory Report. Mr. Stemler is a graduate of Pennsylvania State University and the University of Pittsburgh School of Law. He is a member of the bar in Pennsylvania and the District of Columbia.
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