Closing Statement Fraud
How the HUD 1 Settlement Statement Can Be Manipulated
and What You Can Do About it
4 clock hours
C-4277
 

taught by Gordon Schlicke

"Great job from an excellent instructor.  Good humor, great knowledge of the subject and informative...and...I RARELY fill out evaluation forms."
Helen Kester, John L Scott Bellevue

"I learned a lot of ways to empower buyers during a closing. I am going to be more proactive about getting documents and the HUD I early enough to verify all charges. I will be adding much more value to my services as a Realtor to my clients."
Amy Queen, Lake Real Estate

"This class was an eye opening experience.  I have been in the real estate business for many years and have owned two mortgage companies.  I was SHOCKED at how much I did not know.  In fact, I learned more today than in some three-day seminars."
Bill Bruch, Windermere Bellevue

Case studies demonstrate the dilemma of loan officers who have a plethora of cost alternatives from which to choose not all of which favor the borrower.  A line by line analysis of the HUD 1 Settlement Statement as it relates to the financing of real estate transactions help orient real estate professionals to this form.   After reviewing how each line is supposed to be used, we will examine how mortgage brokers, lenders, and closers misuse this form. 

This class is intended for real estate professionals who are seeking a greater understanding of the final settlement statement and how to interpret many of the items appearing on the form.  Students will learn how to manage surprises which appear on the statement only on the day of closing, and how to avoid being trapped into paying more than necessary for services rendered.

In addition, the student will:

• Understand how risk-based pricing will affect the quality of the loan

• Know what RESPA rules are regarding completion of the form

• Learn the seven things that contribute most to mortgage pricing fraud

• Understand how some brokers and lenders cooperate in deceiving borrowers

• Recognize when specific charges on a statement should be challenged

• Identify potential closing problems before the date of settlement

• Spot how some mortgage brokers deceptively increase their fee income

• Become better informed in the proper use of settlement statements
   

"What an entertaining morning by Gordy.  I have been an agent for 18 years, have gone to every closing with all the clients I've represented, and have always found errors on the HUD Statement. However, I wish I would have had this class years ago. It should be required for all agents."
Nina Cross, Executive Real Estate

"A very fast-paced, entertaining, interesting, and knowledgeable instructor. Made what could be a boring topic FUN. Bravo!"

"This class was SO GOOD! I wish all clock hour classes were like this one."
Anne Kim, Best NW Realty, Mercer Island

"Very worthwhile."

"This class was lively and totally informative.  I liked the real life examples of what lenders and escrow have done.  Gordy obviously has knowledge in depth of this industry and is a terrific resource."

"Gordon's Closing Statement Fraud class was very informative and entertaining."
Mary Beth Emert, Windermere Bellevue

"Gordon ROCKS.  He is a great presenter, honest, a man of great integrity, and I really appreciate his sharing of knowledge.  Would love to hear more!"

"A fabulous class. I learned a great deal, and I have been in business for 14 years."

"VERY INFORMATIVE. Makes me want to look up a few HUDs from the past.  I would definitely take another class with Gordon."
Diane Carr, John L Scott Lake Tapps, Sumner

"Great information in helping me to understand the HUD process, what to watch for, and how to offer guidance to my clients.  I really enjoyed the instructor. He invited us into the conversations."

"An excellent class.  Very good information.  After all of the years experience that I have, it is refreshing to sit in on a class where all that is taught is GOOD to know.  I look forward to the next class taught by Gordon or Jillayne."
Betty Chandler, Windermere Bellevue

This class sells out in all locations so please pre-register early. Although we would love to accommodate all students, training rooms will not be booked beyond capacity.