Foreclosure: Participants will be presented information of the basic requirements for the foreclosure process, including Notice of Default, advertising, conducting the foreclosure sale, transferring of the property to the Purchaser and the settlement of accounts.
Bankruptcy: Participants will be given an overview of the basics of bankruptcy including Chapter 7 and Chapter 13. They will learn that Chapter 7 bankruptcy is a way to eliminate unsecured debts (e.g. credit cards, medical bills, personal loans, payday loans, etc.) and that Chapter 13 bankruptcy is a way of having some or all of a person’s debts paid back over time out of their wages.
Mechanics Liens: Participants will be provided with information regarding mechanics lien statutes and their application to title insurance and the coverage afforded thereunder. Participants will receive a basic understanding of the mechanics lien issues affecting property in the Commonwealth of Virginia.
Industry Updates: Paticipants will get an overview of industry updates including two recent supreme court cases, an update on the activity of the Consumer Financial Protection Bureau and recent American Land Title Association (ALTA) endorsements.
Appraisals: Participants will learn about appraisal independence requirements under the revised Interagency Guidelines (December 2010) and selected concepts from the Truth In Lending Act's new appraisal indpendence requirements.
Dodd-Frank Act: Participants will be presented with a summary of key provisions of the Dodd/Frank Act of 2010 along with detail about their impact to the financial services industry, the housing and mortgage markets, and the economy as a whole.
Real Estate Escrow Accounting Guidelines: With the pervasive trend of mortgage related fraud, participants will be provided with the highlights of key real estate escrow accounting guidelines and controls to assist in the mangement of a secure escrow account for settlement service providers. The guidelines presented will also assist settlement providers with tools to increasing effeciency with escrow account reconciliation.