RESPA Final Rule: Friendly Compliance Letters

SKU: RHD-LTL
Avail: Special Order
Mfg: The Koogler Group

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A safe and affordable way to encourage others to “get in line” with the RESPA Final Rule. For CLOSING AGENTS who are worried about preparing the HUD-1 in non-compliance with the HUD-1 Line Item Instructions [amended through the RESPA Final Rule] because of demands place upon them by loan originators – HUD’s response is to “turn them in” so HUD can contact them directly. Although HUD Compliance Specialists assure us that HUD can safeguard the identity of those who report violations, WE know that most closing agents [attorneys and title agents] don’t want to run the risk that their identity may be revealed.

Upon review of the documentation you submit, showing the alleged violation, we will determine, as best possible, if there is a violation and, if so, will send a “friendly compliance letter” to the lender [from US, keeping your identity safeguarded] outlining the alleged violation and provide them the information directly from the Final Rule, HUD FAQS, and other information we have received from HUD, thus providing them the opportunity to “self-correct” and close in compliance with RESPA. If necessary, and with your prior knowledge and consent, we will notify HUD of any ongoing non-compliance, so that HUD may directly intercede.

PS – If you are a LENDER who is having difficulty getting closing agents to comply with RESPA, we offer the same service to YOU, in reverse. We will send a “friendly compliance letter” to the closing agent, provide them the information necessary to “self-correct” and close in compliance with RESPA. If necessary, and with your prior knowledge and consent, we will notify HUD of any ongoing non-compliance, so that HUD may directly intercede.