Staying true to its announcement three months ago, the Consumer Financial Protection Bureau released a set of proposed updates to its Know Before You Owe mortgage disclosure rule after industry calls asked for greater clarity and certainty on the rule. However, the changes, while welcomed, don’t address everything the industry asked for.

Source: CFPB will update Know Before You Owe rule | 2016-07-29 | HousingWire

Title Insurance Issues

PHH Ruling Not the Last Word on RESPA Enforcement, Cordray Says | Bloomberg BNA

October 28, 2016 admin

The Consumer Financial Protection Bureau is sticking to its fact-based approach on enforcement of the Real Estate Settlement Procedures Act and marketing services agreements despite a recent federal appeals court ruling against the agency, CFPB Director Richard Cordray said Oct. 24.

Source: PHH Ruling Not the Last Word on RESPA Enforcement, Cordray Says | Bloomberg BNA

Continuing Education

Post Closing

October 28, 2016 admin

The Closing is Over but What About the Post Closing

Click Here to Enroll

This course is approved for 1 credit.
The following is an outline of what will be covered in the course:

Eye on the Prize/ Get it Closed

Fiduciary Responsibility / Commitments
Disbursements
Risk Factors

What Is Post-Closing?

Recordings
Money
Lien Release and Trustee Services
Original Documents
Culture – the details

Recording – Priority

Importance of Immediate Recordation
1. Compliance
2. Policy Liability / Gap
3. Customer Satisfaction
4. Underwriter Relationship
5. Minimize Title Liability
6. Supports prompt funding
7. What is E-Recording? How does it help?

Follow the Money