RESPA Part I - Completing the GFE - Self Paced Online Classroom
| Dates | Course Name | Location | ||
| No current dates at this time. Please call 800-278-0200 to be placed on the waiting list. | ||||
About
This course is designed to help mortgage professionals understand the requirements of RESPA, how to complete a Good Faith Estimate and how the Good Faith Estimate impacts the HUD1 Settlement Statement. This course will help both new and experienced mortgage professionals understand the Good Faith Estimate, the completion and timing of the GFE, as well as what circumstances allow the GFE to be revised.
There are four lesson in this course. The following overview provides you with the information that will be covered in each lesson.
Lesson 1- RESPA Overview- Distinguish which loans are subject to RESPA
- Identify the disclosures required by RESPA
- Recognize the definition of an application under RESPA
- Understand the timing of the Good Faith Estimate and when you may collect an application fee
- Recognize key information provided on page 1 of the Good Faith Estimate
- Understand and explain the important dates and loan terms
- Complete the Important Dates and Summary of Your loan sections
- Understand the requirements for providing escrow account information and the summary of the settlement charges
- Identify the type of information contained on page 2 of the Good Faith Estimate
- Understand Section A-Your Adjusted Origination Charges
- Explain Section B-Your Charges for All Other Settlement Services
- Identify the correct block for various fees associated with a standard mortgage transaction
- Understand the difference between required services selected by the lender and those selected by the borrower
- Know the sections of page 3 require completion
- Know how and when to complete the tradeoff table
- Understand the purpose of page 3 and be able to explain it to the borrower
Fees
$99.00
(Payment is required in advance, by check or charge by phone at 800-278-0200.)
