Wolters Kluwer Financial Services is now offering banks, credit unions and mortgage lenders a tool kit to them prepare for the new requirements of the Real Estate Settlement Procedures Act (RESPA), which take effect Jan. 1, 2010.
The company's RESPA Tool Kit offers an overview of the Department of Housing and Urban Development's (HUD) changes, including revisions to the Good Faith Estimate and HUD-1 and HUD-1A documents, as well as Settlement Cost booklets intended to more clearly explain loan terms to borrowers.
The tool kit also includes streamlined RESPA policy development through Wolters Kluwer's PRINGLE Policies & Audit Procedures software, employee training via instructional videos, and an Implementation and Documentation Guide containing best practices.
Each solution is available separately, although banks and lenders can receive a 10% discount by purchasing the entire package.
SOURCE: Wolters Kluwer Financial Services