FIND YOUR TEMPLATE. FAST AND EASY!

Regulation X/Real Estate Settlement Procedures Act (RESPA) Policy

$275.00

The purpose of this Regulation X Policy Template is to address how a bank, credit union, or other type of financial institution adheres to Regulation X – “Real Estate Settlement Procedures Act” (RESPA).  The purpose of RESPA is to provide borrowers with pertinent and timely disclosures regarding the nature and costs of the real estate settlement process.  Also, RESPA protects borrowers against certain abusive practices, such as kickbacks, and places limitations upon the use of escrow accounts.

Description

Regulation X Policy

The purpose of this Regulation X Policy Template is to address how a bank, credit union, or other type of financial institution adheres to Regulation X – “Real Estate Settlement Procedures Act” (RESPA). The purpose of RESPA is to provide borrowers with pertinent and timely disclosures regarding the nature and costs of the real estate settlement process. Also, RESPA protects borrowers against certain abusive practices, such as kickbacks, and places limitations upon the use of escrow accounts.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Statement – Topic 2
  • Definitions – Topic 3
  • E-SIGN Applicability – Topic 4
  • Coverage – Topic 5
  • Application Disclosure Requirements – Special Information Booklet – Topic 6
  • Application Disclosure Requirements – Good Faith Estimate – Topic 7
  • Use of HUD-1 and HUD-1A Settlement Statements – Topic 8
  • Reproduction of Settlement Statements – Topic 9
  • Inspection, Delivery and Record keeping of Settlement Statements – Topic 10
  • Mailing – Topic 11
  • No Fee – Topic 12
  • Prohibition Against Kickbacks and Unearned Fees – Topic 13
  • Affiliated Business Arrangements – Topic 14
  • Title Companies – Topic 15
  • Escrow Accounts – Topic 16
  • List of Homeownership Counseling Organizations – Topic 17
  • Mortgage Servicing – Topic 18
  • Audit Policy – Topic 19
  • Staff Training – Topic 20
  • Retention of Documentation – Topic 21

Includes the following form template:

Recent updates to this product:
05/01/18 Update
Deletion of Guidance Prior to 04/19/18 Effective Date
10/10/17 Update
CFPB Interim Final Rule – Amendments to the 2016 Amendments to the 2013 Mortgage Servicing Rules Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)
11/01/16 Update
Publication in the Federal Register of the CFPB’s 81 FR 72160 – Change in Effective Dates
09/01/16 Update
Consumer Financial Protection Bureau Expands Foreclosure Protections

This Regulation X Policy Template (approximately 64 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $275.00.

Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.

When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.

Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.

You may also like…