RESPA - Are You Ready for the January 2010 Deadline?
ARCHIVE OPTION AVAILABLE
Can't attend at this time? Click here for the archived version.
July 30, 2009
1:00–2:00 p.m. Central Time
(2:00–3:00 p.m. EDT, 12:00–1:00 p.m. MDT, 11:00 a.m. – 12:00 p.m. PDT — Confirm the relative time in your area by visiting www.time.gov)
Tuition: $89 for the live audio conference (includes live and 6 months access to the archive)
Call-in Procedure
RESPA - Are You Ready for the January 2010 Deadline? In November 2008 the Department of Housing and Urban Development (HUD) issued final rules changing some of the RESPA requirements. Beginning January 1, 2010, mortgage lenders will be required to use a new three-page Good Faith Estimate (GFE) form and revised HUD 1 and HUD 1A. The use of the new forms is mandatory on January 1, 2010 but credit unions can begin using them at any time prior to that date.
Through this audio conference, you will:
- Learn how to prepare the new forms and how they differ from the current forms
- Examine how the use of these revised forms will affect your lending policies and procedures
- Find out how you can turn this change into a benefit for your credit union
- Learn more about the GFE tolerances for settlement costs
- Get your compliance related questions answered in connection with these changes
- Review the changes in the new Good Faith Estimate form, HUD 1, and 1A forms
- Understand the impact these changes will have on your mortgage origination process
- Hear best practices
- Get an update on any pending legislation
Who should attend
This audio conference is beneficial for mortgage lending management and staff, along with anyone involved in the mortgage lending process at your credit union.
Is a recording available for purchase?
Yes, you can share the information with other staff by ordering a recording of the audio conference (even if you couldn't attend the live call). Archives will be available within 24 hours of the live audio. Click here to register for the archived version.
INSTRUCTORS
Michael McLain
Michael is assistant general counsel and senior compliance counsel at CUNA in Madison, Wisconsin. He works with CUNA Center for Professional Development to ensure its products and services are in compliance with and accurately portray federal regulations affecting credit unions. He also answers compliance questions from state credit union leagues and credit unions. Mike is also a regular contributor of compliance related articles to CU Magazine. Prior to joining CUNA's legal department, McLain served for approximately 10 years as vice president and corporate counsel to a $300 million credit union in northeast Ohio and for nearly two years as vice president and corporate counsel to a $500 million credit union in central Pennsylvania.
Tracy Jean Ashfield
Tracy founded Strategic Mortgage Solutions (SMS) in 2001 to help credit unions with mortgage lending strategy, development, policies, product design, training, and strategic planning. Recently she merged the consulting firm into Prime Alliance Solutions, Inc., where today she serves as executive vice president.
In addition to working with credit unions and CUSOs, Tracy works with the NCUA and NASCUS to provide training and education in the area of residential mortgage lending. Tracy has helped the largest mortgage granting credit unions enhance their programs while helping those new to mortgage lending develop business strategies that have propelled them into efficient, profitable real estate lenders.
Tracy has more than 25 years of experience in mortgage banking management. Before forming SMS, she held a variety of management positions with CUNA Mutual Group. In addition to being the senior executive of mortgage development, she was the senior vice president of operations of CUNA Mortgage Corporation, responsible for retail and wholesale production, more than 20 branches, and their National Training Department. Tracy also worked with CMG Mortgage Insurance Company committed to helping credit unions develop low down payment and affordable housing programs for their members.
Tracy is the co-author of Credit Union Mortgage Strategies: The Best Never Rest and numerous other periodicals on credit union lending strategies.
Affiliation with CUNA/League is required for attendance.
How many people from my credit union can call in?
Each registration provides call access for one phone line or person. While the audio conference can be listened to by several people at once (in a conference room, for example), the registered individual is the only person who will receive transcript credit for attending.
CANCELLATIONS
Cancellation and refund requests must be in writing (or faxed to 608-231-4327) and are subject to a $30 service charge for the audio conference if cancelled seven days prior. No refunds will be granted if your cancellation is received seven days or less before the audio begins. Substitutions are accepted anytime before the audio conference starts.
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