tag:blogger.com,1999:blog-65198800182569369872024-03-19T16:23:53.067-04:00Webinars - Lenders Compliance GroupWebinars on Regulatory Compliance for Mortgage Loan Originators.Jonathan Foxxhttp://www.blogger.com/profile/11176318536334393246noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6519880018256936987.post-89545676764432798942015-12-03T08:06:00.000-05:002015-12-14T09:02:15.567-05:00TRID Challenges for Real Estate Professionals<div style="text-align: center;">
<span style="color: #cc0000; font-family: "arial" , "helvetica" , sans-serif; font-size: large;">TRID Challenges: Guidance for Real Estate Professionals</span></div>
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<span style="color: #cc0000; font-family: "arial" , "helvetica" , sans-serif; font-size: large;">December 15, 2015</span></div>
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<span style="color: #cc0000; font-family: "arial" , "helvetica" , sans-serif; font-size: large;">2 PM - 3 PM EDT</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Consumer Financial Protection Bureau (Bureau) integrated the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) disclosures. The combined TILA and RESPA disclosures are called TILA/RESPA Integrated Disclosure, or TRID. The new TRID rules and forms took effect on October 3, 2015. These new regulations necessitate a shift in how real estate professionals serve their clients. While most of the implementation of the changes fall on lenders, realty firms must become familiar with the impact of the TRID rules in order to ensure timely closings, among other things. In this webinar for real estate agents, we will provide important facts and tips that will enhance the clients' home purchase experience.</span></div>
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<span style="color: #cc0000; font-family: "arial" , "helvetica" , sans-serif;">Topics</span><br />
<ul>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Major changes under the TRID Rule</span></li>
<li><span style="font-family: arial, helvetica, sans-serif;">TILA/RESPA - Boot Camp Basics</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Timeframes: Application to Closing</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Three Day Closing Disclosure Rule</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Pre-Approvals</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Walk-throughs</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Tips for timely closings </span></li>
</ul>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: #cc0000;">Attendees Package</span></span><br />
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<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Top Ten Need-to Know List</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Tips and Tactics</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Webinar Slides</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Suite of Services</span></li>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;">Post-webinar access to Q&As</span></li>
</ul>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Our webinars are usually highly attended and registration fills up quickly.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Please register early!</span></div>
Jonathan Foxxhttp://www.blogger.com/profile/11176318536334393246noreply@blogger.comtag:blogger.com,1999:blog-6519880018256936987.post-66632373318852793292015-10-14T11:16:00.000-04:002015-10-20T09:19:54.142-04:00Marketing Services Agreements: The CFPB's Bulletin<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;"></span><br />
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<span style="color: #cc0000; font-family: Arial, sans-serif;">Marketing Services Agreements</span></div>
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<span style="font-family: Arial, sans-serif;"><span style="color: #cc0000;">The CFPB's Bulletin</span></span></div>
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<span style="font-family: Arial, sans-serif;"><span style="color: #cc0000;">October 23, 2015</span></span></div>
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<span style="font-family: Arial, sans-serif;"><span style="color: #cc0000;">1 PM - 2 PM EDT</span></span><br />
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<span style="font-family: Arial, sans-serif;">Series on Marketing Services Agreements ("MSAs") - Second Webinar</span></div>
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<span style="font-family: Arial, sans-serif;">On October 8, 2015, the Consumer Financial Protection Bureau issued Bulletin 2015-05, entitled "RESPA Compliance and </span><span style="font-family: Arial, sans-serif;">Marketing Services Agreements," which clarified its position on MSAs. The Bureau had issued a Consent Order, in </span><span style="font-family: Arial, sans-serif;">September 2014, against Lighthouse Title, Inc., a Michigan title insurance agency that had entered into a series of </span><span style="font-family: Arial, sans-serif;">MSAs with various settlement service providers. The Consent Order clarified the Bureau’s concerns regarding methods </span><span style="font-family: Arial, sans-serif;">used in determining the payments under such agreements. The Consent Order also raises troubling questions about how </span><span style="font-family: Arial, sans-serif;">the Bureau interprets Section 8 of RESPA, since many of those interpretations seem to be at odds with guidance </span><span style="font-family: Arial, sans-serif;">previously offered by the Department of Housing and Urban Development. In this webinar, we will discuss the CFPB's </span><span style="font-family: Arial, sans-serif;">Bulletin, the implications of the Lighthouse Title issue, and several ways to implement viable Marketing Services </span><span style="font-family: Arial, sans-serif;">Agreements.</span><br />
<blockquote class="tr_bq">
<span style="color: #cc0000; font-family: Arial, sans-serif;">Topics</span></blockquote>
<ul>
<li><span style="font-family: Arial, sans-serif;">Background regarding MSA use</span></li>
<li><span style="font-family: Arial, sans-serif;">Highlight current regulatory issues raised by the Bureau's Consent Order</span></li>
<li><span style="font-family: Arial, sans-serif;">Lessons learned for structuring new and existing MSAs</span></li>
<li><span style="font-family: Arial, sans-serif;">CFPB's Bulletin 2015-05 on MSAs</span></li>
</ul>
<blockquote class="tr_bq" style="text-align: left;">
<span style="color: #cc0000; font-family: Arial, sans-serif;">Description</span></blockquote>
<ul>
<li><span style="font-family: Arial, sans-serif;">Background regarding MSA use</span></li>
<li><span style="font-family: Arial, sans-serif;">Regulatory issues raised by the Bureau’s Consent Order</span></li>
<li><span style="font-family: Arial, sans-serif;">Lessons learned for structuring new and existing MSAs</span></li>
<li><span style="font-family: Arial, sans-serif;">CFPB's Bulletin 2015-05 on MSAs</span></li>
</ul>
<blockquote class="tr_bq">
<span style="color: #cc0000; font-family: Arial, sans-serif;">Attendees Package</span></blockquote>
<ul>
<li><span style="font-family: Arial, sans-serif;">Webinar Slides</span></li>
<li><span style="font-family: Arial, sans-serif;">Outline of MSA requirements</span></li>
<li><span style="font-family: Arial, sans-serif;">Suite of Services</span></li>
<li><span style="font-family: Arial, sans-serif;">Post-webinar access to Q&As</span></li>
</ul>
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">Our webinars are usually highly attended and registration fills up quickly. </span><br />
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<span style="color: #cc0000; font-family: Arial, sans-serif;">Attendance is </span><span style="color: #cc0000; font-family: "Arial",sans-serif;">limited to the first 1,000 attendees</span><span style="font-family: "Arial",sans-serif;">!</span></div>
Jonathan Foxxhttp://www.blogger.com/profile/11176318536334393246noreply@blogger.comtag:blogger.com,1999:blog-6519880018256936987.post-79677311776292005222015-09-24T10:01:00.000-04:002015-10-05T12:39:25.342-04:00Marketing Services Agreements: Alive, Dead, or Life Support?<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;"><a href="http://lenderscompliancegroup.com/2.html">Jonathan Foxx</a></span><br />
<span style="font-family: Arial, sans-serif; font-size: x-small;">President & Managing Director</span><br />
<span style="font-family: Arial, sans-serif; font-size: x-small;">Lenders Compliance Group</span><br />
<span style="font-family: Arial, sans-serif;"><br /></span>
<span style="font-family: Arial, sans-serif;">For some time, I have been concerned about the borderline
profiteering conducted by some compliance professionals in their effort to pick
up a few extra bucks by providing information vital to mortgage loan originators.
It seems that making money from their professional services is not enough. They
need to charge hundreds of dollars for webinars!<o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif;">The most recent,
egregious attempt to snatch at MLOs' wallets involves offering some insights
about Marketing Services Agreements ("MSAs"). Hawking grisly
scenarios of gloom and doom, these acquisitive webinar purveyors
attract prominent professionals, and, with them on board the webinar gravy
train, charge MLOs high fees for the privilege of hearing their baneful opinions
by means of the webinar broadcast. One webinar host is charging nearly $450!</span><o:p></o:p></div>
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<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">This is muck-up parading as mark-up!<o:p></o:p></span></div>
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<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">The CFPB has expressed its view of Marketing Services Agreements
("MSAs") under Section 8 of the Real Estate Settlement Procedures Act.
The Bureau issued a Consent Order, in September 2014, against Lighthouse Title,
Inc., a Michigan title insurance agency that had entered into a series of MSAs
with various settlement service providers. <o:p></o:p></span></div>
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<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">The Consent Order: <o:p></o:p></span></div>
<ul type="disc">
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif;">clarifies the Bureau's concerns
regarding methods used in determining the payments under such agreements;
and<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif;">raises troubling questions about
how the Bureau interprets Section 8 of RESPA, since many of those
interpretations seem to be at odds with guidance previously offered by the
Department of Housing and Urban Development.<o:p></o:p></span></li>
</ul>
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<div style="text-align: center;">
<span style="font-family: Arial, sans-serif;">But we have a solution to the jitters!<o:p></o:p></span></div>
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<br /></div>
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<span style="color: red; font-family: "Arial",sans-serif;">LCG is going to offer an <u>absolutely free</u> webinar: <o:p></o:p></span></div>
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<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial",sans-serif;">"Marketing Services
Agreements - <o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial",sans-serif;">Alive, Dead, or Life
Support?" <o:p></o:p></span></div>
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<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial",sans-serif;">October 8, 2015 at 1 PM - 2 PM
EDT.<o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif;">All you need to do is register and attend! <o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: Arial, sans-serif;">Plus, </span><u><span style="color: red; font-family: "Arial",sans-serif;">for attendees only</span></u><span style="font-family: Arial, sans-serif;">, the following important support will be offered:<o:p></o:p></span></div>
<ul type="disc">
<li class="MsoNormal" style="color: red; mso-list: l4 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: Times New Roman; font-size: small;">Outline of MSA requirements, in order to
assist you in evaluating the structure of such relationships, plus</span><o:p></o:p></li>
</ul>
<ul type="disc">
<li class="MsoNormal" style="color: red; mso-list: l1 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: Times New Roman; font-size: small;"><span style="font-family: "Arial",sans-serif;">Webinar
Slides, plus</span><o:p></o:p></span></li>
</ul>
<ul type="disc">
<li class="MsoNormal" style="color: red; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Arial",sans-serif;">Suite of Services, plus<o:p></o:p></span></li>
</ul>
<ul type="disc">
<li class="MsoNormal" style="color: red; mso-list: l5 level1 lfo5; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: Times New Roman; font-size: small;"><span style="font-family: "Arial",sans-serif;">Email
questions in a post-webinar Q&A.</span><o:p></o:p></span></li>
</ul>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">Our webinars are usually highly attended and registration fills up
quickly, so attendance is </span><span style="color: red; font-family: "Arial",sans-serif;">limited to the first 1,000 attendees</span><span style="font-family: Arial, sans-serif;">. <o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">In this webinar, the topics covered are: </span></div>
<ul type="disc">
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif;">Background regarding MSA use,<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif;">Highlight current regulatory issues
raised by the Bureau's Consent Order, and<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif;">Lessons learned for structuring new
and existing MSAs.<o:p></o:p></span></li>
</ul>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif;">This is not going to be a gloom and doom webinar! If you want that
type of webinar, pay an exorbitant fee to attend the other webinars and get
your share of doubt, pessimism and grief. MSAs have been a part of the industry
for many years and the CFPB has not outlawed them at all, despite what you may
have heard. Structured correctly, they are entirely legal!</span></div>
Jonathan Foxxhttp://www.blogger.com/profile/11176318536334393246noreply@blogger.com