RESPA: Disclosure Requirements

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 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.

• 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

Duration:

0.5 hours

Features:

Mobile, accessible, audio, video

Module(s):

40469EN