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20 Hour S.A.F.E. Comprehensive Upcoming Classroom Equivalent courses (ID: 1135) Cost: $289.00 plus $30.00 NMLS fee Upcoming Live courses (ID: 1055) Cost: $349.00 plus $30.00 NMLS fee (ON SALE) (More information or Register) With the deadlines quickly approaching, MTI is holding approved courses in different formats. MTI Services Corporation is approved by the National Mortgage Licensing System and Registry (NMLS), Provider Number: 1400044. Classes are being offered in traditional live classroom environments and classroom equivalent, through a webinar-based platform. Obtain credit for the required 20 hours of education.
Selling & Financing with the New FHA $149 (More information or Register) Ongoing Course - FHA will allow First-time home buyers to use their up to $8,000 tax credit as the down payment.
The New Good Faith Estimate for 2010 $69 (More information or Register) Ongoing Course - This course will walk you through every element on the new form. You will learn how to calculate the form and how to explain it to your borrowers. Don't be caught not understanding this new form and not completing it correctly.
Mortgage Training Institute - National Licensing Courses $Varies (More information or Register) Ongoing Courses - Online Federal Test Prep course, 20 Hour SAFE Comprehensive
DocMagic Compliance Alert
With one month of living with the new RESPA 2010 rule under our belts, many of the issues that seemed so daunting just a short time ago are gradually being resolved. Undoubtedly, many of the remaining issues will be resolved in the upcoming days and weeks as the industry becomes more familiar with the effects of the new RESPA 2010 rule. In response to recent clarifications from the Housing and Urban Development (HUD) (including, without limitation, HUD’s latest RESPA FAQs, dated January 30, 2009 and direct conversations with HUD representatives), feedback from our LOS partners and DocMagic customers who use LOS’s, and interactions with compliance professionals in the residential mortgage lending industry, DocMagic has enhanced its software accordingly as specifically described here.
Should you have any questions about this change, please contact us at 800-649-1362.
Sincerely,Your DocMagic Team
Some lawmakers are suspending their townhall meetings, instead holding smaller sessions, telephone briefings and inviting constituents to one-on-one office visits. All of this means that the best method of relaying your concerns about the proposed Consumer Financial Protection Agency (CFPA) is through one-on-one meetings with Representatives or their staff in their district offices. Another novel way of expressing your concerns is to invite them to come to your office and sit in on a closing to see how the process works.
Dear NAMB Members,
Please call your Representatives today and urge them to cosponsor H.R. 3044. The bill was introduced by Representatives Childers (D-MS) and Miller (R-CA) and it calls for an 18 month moratorium on the Home Valuation Code of Conduct (HVCC). Click here for a copy of NAMB’s press release on H.R. 3044.
Last week ALTA held meetings with the Treasury Department and with key House Financial Services Committee staff to explore administration and congressional openness to modifying the President's legislation to create a new Consumer Financial Protection Agency (CFPA) as it affects the title insurance industry. As previously discussed, our concern is that powers proposed to be given to the new agency are so broad as to effectively nationalize the regulation of title insurance. Our proposal is to limit federal oversight of the industry to existing authority as spelled out under RESPA and TILA. The door was not slammed in our face, so we are working on language.
