Real Estate Settlement Procedures Act
The purpose of this policy and procedure guide is to address the Real Estate Settlement Procedures Act (RESPA) and its implementing Regulation X requirements.
Overview
Mortgage lenders and servicers must comply with the initial disclosure, settlement, and servicing requirements under the Real Estate Settlement and Procedures Act.
The AllRegs庐 Real Estate Settlement and Procedures Act Policy and Procedure Guide addresses the following topics:
- Application and origination disclosures
- Prohibitions against kickbacks and unearned fees
- Affiliated business arrangements
- Escrow account administration
- Homeownership counseling
- Servicing disclosures
- Servicing transfers
- Error resolution and requests for information
- Force-placed insurance
- Early intervention
- Continuity of contact
- Loss mitigation
- Small servicer provisions
- Operational compliance
- Record retention
- Exhibits
- Best practices
Benefits
The guide features the following benefits:
- Supports strong operational practices and preparedness
- Explains roles and responsibilities
- Explains what to expect and how to work with auditors
- Provides practical guidance for managing the audit process from within
- Features an audit tracking spreadsheet as an optional tool
Optional Services
Maintenance: Receive regular and ongoing industry updates to keep your guide within regulatory requirements.
Publishing: Publish your guide, including your company procedures, in AllRegs Online.
Contact your account manager for information regarding these optional services!