The HUD-1 settlement statement and Good Faith Estimate forms are going away on October 3rd. The Truth in Lending Act disclosure is going away as well. In their place will be a new closing disclosure and a new loan estimate. There will be changes to the closing process as well, including a new rule requiring everything to be in place three days prior to closing. And last-minute changes face new hurdles. Learn about the changes in this walk-through.
KCAR has scheduled two settlement procedures/RESPA trainings for the months of August and September. On Wednesday, August 19th, KCAR will be holding a three hour continuing education class to teach agents about the changes. It will be held at KCAR and the class will count towards module 7. Cost is $25 for KCAR members and $35 for non-members. Click here for more information and to register.
Another training is scheduled for September 2nd from 12pm to 2pm at Wild Quail Country Club. This training does not count towards continuing education but is free and is a good educational training for agents. Click here for more information and to register.