Real Estate Settlement Procedures Act of 1974 (RESPA), the Bureau’s Regulation X, requires lenders, mortgage brokers, or servicers of home loans to provide borrowers with timely disclosures regarding the transaction including costs of the transaction and the settlement process. This RESPA: Disclosure Requirements online training course discusses the types of loans that are covered under RESPA and the disclosures that are required for those loans. This course is intended for loan operations personnel and compliance officers.
Course Learning Objectives
By taking this online RESPA: Disclosure Requirements course, the user will learn:
- Understand which loan types apply to RESPA and which are exempt
- Know which loan types require various disclosures
- Understand the purpose, timing and content of the Good Faith Estimate and Settlement Statement
- Know when to deliver various Mortgage Servicing Disclosures and what is included within them
This online RESPA: Disclosure Requirements course is made up of the following sections:
- Coverage (1024.5)
- Disclosures (1024.6)
- Good Faith Estimate (1024.7)
- Settlement Statement: HUD-1, HUD-1A (1024.8 and 10)
- Home Loan Tool Kit (1024.6)
- Mortgage Servicing Transfer (1024.33)
This RESPA: Disclosure Requirements online training course was designed for operations personnel and compliance officers.
If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.