RESPA (REG X), TRUTH IN LENDING (REG Z) EQUAL CREDIT OPPORTUNITY ACT (REG C), REGULATION (B), GRAMM-LEACH-BLILEY ACT AND ETHICS
FIVE (5) HOURS OF REQUIRED CORE COURSES INCLUDED
The Equal Credit Opportunity Act, known as Regulation “B”, is the federal law that governs business practices between a borrower and lender. Both the lender and borrower have rights, and this law protects those rights. The lender is required in his daily business practice to be fair and honest to each and every potential borrower. A study of this law will prepare you to know the requirements of the mortgage lending industry and will show you how to meet the requirements in order to avoid violations that can bring stiff and serious penalties.
The Truth In Lending (Reg Z) and Federal Reserve Board (Reg C) are very explicitly detailed laws that govern the mortgage industry, and those laws must be followed to the letter.
The Real Estate Settlement Procedures Act governs the actions involved in a mortgage loan closing and is designed to protect the borrower from ignorance in the transaction.
This course combines all of these laws to fully prepare you to meet the challenges of compliance in a complicated lending environment. You will know the pitfalls and how to avoid them. With this education, you can render the best possible service to your borrower while protecting the lender at the same time.