Forvis Mazars

A two-hour webinar that reviews the disclosures that are provided at the beginning of the application process. Financial institutions are required to provide numerous disclosures throughout the application process – some disclosures are early, some are later. Which disclosures are required and when are they required? What do the disclosures mean?

A two-hour webinar on understanding the requirements and prohibitions of RESPA related to kickbacks, unearned fees, and affiliated business arrangements.Section 8 of RESPA prohibits kickbacks for business referrals and unearned fees. It’s easy to understand that “money under the table” is prohibited, but the rule is much more expansive than just money and covers any “thing of value.” What is a "thing of value"? What will an examiner be looking at to see if there has been an illegal referral? What is the “split” fee rule?Also, in today’s high interest rate environment, applications have decreased. One of the ways that loan officers are trying to encourage business is by entering into agreements with other providers in an attempt to cross-market each other (marketing service agreements (MSAs)), as well as purchase leads from various websites. This not only indicates potential Section 8 issues, but also may present concerns under the Telephone Consumer Protection Act (TCPA).Financial institutions often grapple with trying to reconcile the scope and vagueness of the rule with the complexity of real-life situations. How does an institution make sure that they are in compliance?This webinar will discuss the complete picture of Section 8 and present everyday examples that may violate Section 8 rules.WHAT YOU WILL LEARN:Which transactions are subject to Section 8Prohibition against referral feesDefinitions of “thing of value,” “referral,” and “agreement or understanding”ExamplesProhibition against split fees; ExamplesWhen gifts and promotional activities are permittedMSAs; lead generation versus referral; Potential TCPA rulesCFPB bulletins and FAQs; Other important agency bulletins, documents, and releases; and the Supreme Court interpretation of “split fee”Implications of Section 8 on business relationshipsAffiliated business arrangements and the ABA disclosurePenalties for violationsFORMAT/INSTRUCTIONAL METHOD: GROUP INTERNET-BASEDAn online presentation and any additional supplemental materials, as applicable, will serve as the basis of the presentation. You will have the option to stream the audio through your computer or dial-in using a telephone number/PIN. Ample time will be dedicated to taking questions from attendees. Be sure to submit your questions during the webinar, as we are unable to offer telephone or email support after the presentation.