On The Road Teaching RESPA Reform

Submitted by mschuster on Wed, 09/16/2009 - 5:08pm
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RESPA Reform is certainly the topic on title and settlement agents' minds as they gather at their State Land Title Association Conventions.  I'm just back from the Ohio Land Title Association's Centennial Celebration and Annual Meeting, where RESPA was the single most talked about issue among Ohio agents.  As I led the group through the fundamentals of RESPA Reform and what it meant for their business, we focused on operational issues and successful implementation.  I shared with them a check-list of RESPA Ready action items, and wanted to share it here with you, too.

  • Stay informed and up to date on current changes - RESPA Ready has you covered there
  • If you haven't yet, develop a RESPA Implementation Team inside your organization to insure your successful RESPA implementation
  • Open a dialogue with your loan origination partners in your market-place about how to synchronize your RESPA changes with theirs (if they haven't traveled very far on their RESPA Ready path, assist them in any way you can, including introducting them to this web-site as a resource)
  • Update your software
  • Update your business process (including examining and updating your fees for Title Services)
  • Train all staff impacted by RESPA Reform including: anyone involved with the settlement process, anyone on your marketing staff, and anyone who quotes fees for your services
  • Get the word out to your business partners that you are RESPA Ready!

I'm heading to the Indiana Land Title Association meeting on Thursday and Friday to lead more RESPA education and discussion.  And I'm so excited to host a nuts and bolts worksession of the RamQuest User Group next week! Two full days of RESPA workshops focusing on operational and implementation issues... with a great group of RESPA-progressive agents.  Now that's what I call RESPA BLISS!