RESPA and other mortgage-related regulations continue to be a moving target as lenders work with the U.S. Federal Government to clarify the requirements of the soon-to-be-enforced regulation. Dorado is closely working with our customers and partners to ensure that the right technological controls and business rules are in place for regulation-readiness. We invite you to participate in the dialogue surrounding RESPA, TILA, FACTA and other regulations with Dorado, our customers and our outside expert advisors. In particular, we seek to build mutual knowledge on how existing and prospective requirements will affect internal systems, and what are the best proactive steps to ensuring compliance while maintaining business productivity.

For more information on our findings, to request a copy of Dorado's RESPA Compliance Guidelines, and to learn about upcoming Dorado-run regulatory discussion events, contact RESPA@dorado.com Also see our Compliance Tools page for the latest regulatory-related services available.

Dorado Director of Compliance Angie Kolb attended the MBA Legal Issues & Regulatory Compliance meeting May 2-5th. Contact RESPA@dorado.com for her observations and insights.

In the June 2010 issue of Mortgage Banking magazine, published by the Mortgage Banker's Association, Dorado Director of Product Management and Compliance Angie Kolb outlines best practices for RESPA implementation from a technology viewpoint. See RESPA Readiness – "Some Best Practices for Hitting a Moving Target Known as RESPA".

March 25, 2010
Dorado partner Wolters Kluwer Financial Services is now offering a new RESPA Post-Implementation Audit Service to banks and credit unions. The company said that since changes to the Real Estate Settlement Procedures Act went into effect on Jan. 1, 2010, financial institutions have found several common compliance challenges, including meeting the new fee tolerance and good-faith estimate redisclosure requirements. Another challenge is the lender responsibility to make certain their mortgage brokers and settlement agents are in compliance as well. The review includes an examination of an institution's lending, compliance, vendor management and staff training procedures. It also includes a loan file review that looks at GFEs and HUD-1 and HUD-1A forms for accuracy and adherence to all RESPA requirements. WKFS highlights any areas of potential concern and suggests ways in which policies, procedures and documentation can be improved.