Iowa Bankers Association Iowa Bankers Insurance & Services, Inc.
Iowa Bankers Association
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Johnston, IA 50131
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Event Detail

Event Description

Understanding Section 8 of RESPA & Avoiding Kickbacks and Unearned Fees Webinar

IBA’s compliance webinars are a continuing series. Brought to you by the IBA compliance staff they offer timely information, addressing key regulatory issues when you need it. The webinars keep you informed and ready for the challenges of the changing regulatory financial services environment.

Tit for tat. You scratch my back, I'll scratch yours. Or, if you want to get a little fancier, “quid pro quo”  - a Latin-derived expression referring to something done for someone in exchange for something of equal value in return.  Happens all the time in the business world, right?  No harm, no foul.  However, when it comes to mortgage loan settlement services, there is a BIG foul because of potential BIG harm to consumers. RESPA was enacted by Congress in the early 1970’s to regulate the disclosure of mortgage loan costs and business arrangements in real estate settlements.  Section 8 of RESPA attempts to protect consumers from unnecessarily high settlement costs caused by abusive practices between settlement service providers.   While RESPA has not changed much since its inception, the mortgage industry has evolved by leaps and bounds – sometimes bringing into question how Section 8 of RESPA can be applied to current mortgage lending activities.  In this webinar we will review Section 8 basic rules and apply the rule to current mortgage lending practices.

Webinar participants will gain a better understanding of:

  • Prohibited activities under Section 8 of RESPA
  • What constitutes a referral fee, unearned fee, and kickback
  • Permitted compensation
  • Properly disclosing affiliated business arrangements
  • Pitfalls of certain marketing activities including marketing service agreements, lead agreements, website linking, payments to brokers, and more
  • Tips for reducing Section 8 violation risk

Presenters

 

Julie Gliha, MBA, CRCM, is vice president of regulatory compliance for the Iowa Bankers Association. As a graduate of the University of Northern Iowa and the University of Phoenix, Julie earned her BA in Financial Management, holds a Masters in Business Administration, and is a graduate of the IBA Compliance School. Julie has over twenty-eight years of experience in all areas of regulatory compliance including compliance management, lending and deposit regulations, Bank Secrecy Act, OFAC, Privacy, Community Reinvestment Act, IRA administration, retail bank management, and training.

Ronette Schlatter, CRCM, is a senior compliance coordinator with the Iowa Bankers Association. Her primary responsibilities at the IBA include the coordination, writing and editing of IBA’s monthly compliance magazine, THE DISCLOSURE; providing onsite training and compliance consulting for member banks; researching and
evaluating new regulatory requirements; and responding to member banks’ compliance questions. Ronette received her BA in Business Administration from William Penn College and is a graduate of the ABA Graduate Compliance School.

 

Instructions

Webinar Details

The audio portion is delivered by phone; however, you can view a corresponding PowerPoint presentation using a computer or computer connected to an A/V projector. The program consists of 90 minutes of instruction followed by Q&A. Each registration provides connection to the webinar, materials and access to a six month replay. You may have unlimited listeners on your connection by speaker phone and computer. You will receive a confirmation, materials and instructions. If you do not receive a confirmation at least 2 days prior to the event contact Darcy Burnett at Iowa Bankers Association.

Webinar (10/16/19 10:00 -11:30 a.m.)


Online Registration

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