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RESPA Kickbacks

Get your “kicks” on Route 66, not from RESPA! The Real Estate Settlement Procedures Act (RESPA) was enacted by Congress in 1974 to regulate the disclosure of all costs and business arrangements in a real estate transaction settlement process. One purpose of RESPA is to regulate the referral of business …

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The Ring of CDD Changes

Did you hear it? The alarm clock that just rang to signal the ‘one-year warning’ for May 11, 2018. That is the effective date for the Financial Crimes Enforcement Network (FinCEN) Customer Due Diligence (CDD) enhanced rules and the need for financial institutions to add a fifth pillar to the …

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Data to Grow On

Data to Grow On The Mortgage Industry Report for 2016 was recently posted on the NMLS Resource Center with some good news. This report is published annually and compiles the data concerning those people and entities in the NMLS who conduct mortgage activities. This information is made available for your …

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National Flood Insurance Program

Flood Insurance Rules Flood compliance has been challenging historically, and it has become more complex with the recent implementation of a new flood check form, flood changes included in the CFPB’s mortgage servicing rules, and the promulgation of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). The National Flood …

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The Mortgage Compliance Dragnet – May 2017

Fraudsters Convicted of Operating Nationwide Home Mortgage Scam 04/21/2017 02:14 PM EDT ALEXANDRIA, Va. – Three co-conspirators who operated a nationwide, multi-year “home mortgage modification” fraud that scammed hundreds of victims out of at least $10 million were convicted today by a federal jury. “These defendants scammed hundreds of individuals …

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