RESPA Section 8
If you are a mortgage loan officer you probably cringe a little when you hear the words “RESPA Section 8”. Historically, this has been an area that has been very murky. There are tons of questions but not a lot in the way of actual guidance. Well, there is a little bit of good news! On October 7, 2020, the CFPB released some Frequently Asked Questions (FAQs) on RESPA Section 8 and they provided some much-needed clarity.
Click on the video to listen to Kevin explain more.
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Published
2020/11/23
Kevin Edwards
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).