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URL:https://www.learndesk.us/class/4960291886465024/lesson/192b446e77dffc478705025af56f0ad0?ref=outlook-calendar
SUMMARY:Closing Essentials
DTSTART;TZID=America/Los_Angeles:20260516T190000
DTEND;TZID=America/Los_Angeles:20260516T200000
LOCATION:https://www.learndesk.us/class/4960291886465024/lesson/192b446e77dffc478705025af56f0ad0?ref=outlook-calendar
DESCRIPTION: Settlement process
• Identify selling terms costs • Determine non-prorated debits and credits • Complete prorated debits and credits • Complete the closing statement • Disburse funds
RESPA
Applicability
• For residential property • First or second mortgage • Federally-related mortgage, or • Assumption modifying loan terms
Information booklet
• Lender must provide the CFPB booklet, "Your Home Loan Toolkit"
Loan Estimate
• Lender must provide C FPB's H-24 Loan Estimate of settlement costs within three days of application.
Closing Disclosure
• Lender must use C FPB's H-25 Closing Disclosure
Referral fees and kickbacks
• RESPA prohibits payment of referral fees and kickbacks • Business relationships between firms involved in the transaction must be disclosed
Debits and Credits
Amount buyer must produce: excess of buyer's debits over credits.Amount seller must receive an excess of seller's credits over...

https://www.learndesk.us/class/4960291886465024/lesson/192b446e77dffc478705025af56f0ad0?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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