Event Detail

Event Description

Learn what transactions are covered by RESPA’s prohibition against unearned fees and kickback; what constitutes a referral fee, or an unearned fee or kickback and what compensation is permissible

Over the past few years the Department of Housing and Urban Development (HUD) has tripled its enforcement staff. And no big surprise, the number of enforcement actions has increased significantly. Many of the actions involve violations of Section 8 of RESPA, which prohibits unearned fees and kickbacks. Settlements of the enforcement actions range from a few thousand dollars to nearly a $1 million. Failure to comply with Section 8 rules can also lead to jail terms, in addition to the penalties.

Why Participate?
Every bank has violations of Section 8, hopefully not the kind that lead to seven figure settlements. Your bank may be unaware of its violations because examiners and internal or external auditors have not yet detected the problems.  Sign up today to learn more about your Section 8 violations. 

Participants receive a detailed manual that serves as a handbook long after the program is completed.

Highlights
This two-hour webinar focuses on:
• What actions are prohibited;
• What constitutes an unearned fee or a kickback;
• Typical violations cited by examiners and by HUD;
• What constitutes an affiliated business arrangement and the rules that apply to such arrangements; and
• How to properly handle broker arrangements, both those where the bank is working with a broker and those in which the bank serves as a broker.

Audience
The program is designed for compliance officers, auditors and everyone in the mortgage lending and audit departments. 

CE Applied: 2.5 hrs. CRCM/CLBB/CPB w/the Institute of Certified Bankers

Presenter
Jack Holzknecht, a principal with Pegasus Educational Services, LLC, has provided training to thousands of bankers and examiners for 27 years. Jack’s career began as a federal bank examiner.  He also headed the form and software division of a regional consulting company and headed their education division for 7 years. Jack has been an instructor at compliance schools presented by the Kentucky, Pennsylvania, New York and Texas bankers associations. He also developed and delivered training for the FDIC and OTS.
 

Instructions

What is a Webinar?
A webinar is an enhanced telephone seminar. The audio portion of the program is delivered by speaker phone. You may also view a corresponding PowerPoint presentation using a PC. No special hardware is needed. You may still participate by phone only. The program consists of 90 minutes instruction and 30 minutes live Q&A. Each webinar registration provides 1 connection to the live webinar, written materials and access to the Webinar Archive for 30 days following the broadcast. You may have unlimited listeners on your connection by speaker phone and PC. You will receive a PIN, written materials and instructions prior to the seminar.  If you do not receive a confirmation at least 2 days prior to the event call 888-262-7701.

What is an On-Demand Webinar?
An On-Demand Webinar is a live webinar that has been recorded and then streamed to your computer to watch at your convenience. The program can be viewed any time 24/7. You can watch a portion of the program, come back and pick up where you left off! You may also review the program at will if you need a refresher. Anyone at your branch may access the program from a computer using the login and password. When you purchase a webinar archive, you have unlimited access to the program for six months from the date of purchase.

Transmission, retransmission or republishing of the audio portion of the seminar is prohibited. Your registration entitles you to 1 connection at 1 location with permission to copy materials for participants. Complete one registration per location.

Webinar (04/22/10 1:30 - 3:30 p.m.)

Information & Registration form (pdf file)

Online Registration