Real Estate Settlement Procedures Act (RESPA)
{"Image DocumentName": "Real Estate Settlement Procedures Act (RESPA)", "Image ImageDescription": "U.S. Bank\u2019s File Review. U.S. Bank Home Mortgage-MRBP staff performs a basic compliance review of the GFE document to ensure compliance with the following: Ensure GFE is on proper form. Ensure HUD-1 is on proper form. Verify Loan Terms on HUD-1 match Summary of Your Loan on the last issued GFE. Verify HUD-1 is within acceptable tolerances with last GFE issued including a review of charges that cannot increase by more than 10% Verify lender provided acceptable cure documentation, if applicable. Post Settlement Cure: HUD allow lenders a 30-day cure period from date of borrower\u2019s signed closing documents for violating GFE/HUD-1 fee tolerances. Lenders exceeding fee tolerances will be in violation of Section 5 of RESPA. USBHM must receive proof of refund to borrower and a corrected HUD-1, from settlement agent prior to loan purchase. NOTE: If there is a known issue, don\u2019t wait until USBHM has reviewed as you may exceed the 30-day cure period for correction.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}