A Texas company is looking to help mortgage professionals avoid breaking the law by educating them about the rules of RESPA.
Lacefield and Associates announced today new online training videos designed to help students keep up with regulations and investigation techniques conducted by the Real Estate Settlement and Procedures Act enforcement division -- also known as the "RESPA Police."
The training is conducted by Dr. Gary E. Lacefield, the announcement said, and is available at www.RespaNewsUpdate.com.
"Increased enforcement of these regulations has resulted in record fines," Lacefield said in the statement. Mortgage brokers and mortgage bankers have been among the major offenders -- although they often were completely unaware they were violating the law, he added.
Lacefield is a civil rights analyst, investigator, supervisor of lending investigators and the Southwest Area RESPA Officer for HUD, the announcement from the Fort Worth-based company said.
The free education site is supported by retail mortgage originator WR Starkey Mortgage and compliance advisory firm Risk Mitigation Group, a statement on the Web site says, both Texas-based companies.
"Early viewers of RESPA News Update found that viewing the 10-minute lessons during morning meetings was helpful in launching discussions for improving business practices," the announcement said.
New episodes reportedly will be posted each Friday and be available on DVD.