Truth in Lending and RESPA

Outline

Department of Housing and Urban Development
Act

Truth in Lending Act (TILA) Reg
‘Z’

Fair Credit Reporting Act (FCRA)

Bank Secrecy Act/ Anti-Money
Laundering

Real Estate Settlement Procedures
Act (RESPA)

Learning Objectives       

1.       Understand the purpose of the Truth in Lending
   Act and to identify the disclosures, requirements, and penalties.
2.       Understand the regulator, or governing body,
   for the Truth in Lending Act.
3.       Understand the record retention requirements
   for the Truth in Lending Act.
4.       Understand which regulation implements the
   Truth in Lending Act.
5.       Understand the amendments of the Truth in
   Lending Act. Regulation Z
6.       Know what Disclosure Statements are required in a loan transaction
7.       Understand the purpose of Regulations X.
8.       Understand what types of loans RESPA
   applies to.
9.       Understand the timing of the disclosures.
10.       Understand Sections 6, 8, 9, and 10 of
    RESPA.
11.       Loan Estimate
    1.       Guide to Settlement Costs
    2.       Settlement Service Provider
12.       Understand loan-servicing requirements.
13.       Understand complaint resolution
    procedures.
14.       Understand the penalties imposed under
    Regulation X.
15.       Understand an Affiliated Business
    Arrangement (AfBa) 

Teaching Methods:

Power Points, Video PowerPoint Presentation and Quiz