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RESPA Errors and Inquiries

In 2014, the compliance world is going to become even more challenging. January 10, 2014 is the day the Dodd-Frank amendments to RESPA’s servicing rules come into effect. This presentation focuses on a servicer’s regulatory responsibility in handling borrower error notices and information requests. RESPA Sections 35 and 36 take what traditionally has been known as the “Qualified Written Request” and separate and expand the procedures for dealing with the borrower in these matters. It’s time to start making the transition to the new ways of handling borrower communications regarding mortgage loans.

What You Will Learn:

  • What the current rules are
  • What the new rules require
  • What the compliant response timelines are
  • What operational issues may emerge
  • What the statutory penalties for non-compliance are

Target Audience:

Lending and servicing personnel, compliance and audit personnel

Level: Basic to Intermediate

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