The 16th annual National Settlement Services Summit (NS3), slated for Sept. 1-3, will feature an entire compliance track this year, one of three tracks featured at the show.
The Compliance Track is sponsored by Stewart.
On Sept. 1, four top regulators will kick things off by participating in a panel discussion about how many of the regulations affecting the industry recently are coming from the state level.
The regulator panel will be moderated by Westcor Land Title Insurance Co. CEO Mary O’Donnell.
The panelists will be: Susan Apel, senior deputy attorney general, Office of Pennsylvania; Attorney General Josh Shapiro, Bureau of Consumer Protection; Neil Derr, investigator, Colorado Department of Regulatory Agencies; Chuck Myers, supervisor, RESA Investigations Section, Virginia Bureau of Insurance and Marj Thompson, Chief of Investigations, Consumer Affairs Division, Missouri Department of Commerce and Insurance.
On Sept. 2, Jaime Kosofsky, founding partner of Brady & Kosofsky, PA, will be the featured speaker for “It Will Never Happen To Me,” a session that will highlight how 2020 has proved the industry needs to be ready for anything.
Kosofsky will discuss how one title insurance company’s emergency preparedness eased the response time and let his business continue to operate despite a series of catastrophes.
“While 2019-2020 has brought about great things and changes for Brady & Kosofsky, it has also been a very challenging time period,” he said. “Beginning in July 2019, our office was gutted by a fire which destroyed our physical IT infrastructure and purchase department. We were fortunate that we had a DR (disaster recovery) plan in place and we were able to recover in time to open for business the next morning. To kick off 2020, we had a brush with a tornado which did damage to our old facility and caused governmental interruptions, and in March we heavily modified how we use our office due to the COVID 19 pandemic. In my session, we will look at all of these events and how having the proper plan in place saved our business.”
Later that day, Mayer Brown, LLP Partners Holly Spencer Bunting and Phil Schulman, along with Katten & Temple, LLP Of Counsel Brian Levy, will lead the session, “RESPA Questions Answered.”
“We know you know the requirements for creating lawful affiliated business arrangements and co-advertising arrangements on the internet,” Schulman said. “But what about the more practical issues that arise when real estate agents want to own a piece of the joint venture or members aren’t sure how standards differ when establishing a mortgage company rather than a mortgage broker? How do you determine reasonable market value when three loan officers all advertise with the same real estate agent online? In the middle of a pandemic do you still pay for a desk rental when the real estate broker’s office is closed? And what can you do to avoid violating RESPA while still developing effective strategic alliances with other settlement service providers?”
On Sept. 3, Chuck Cain, executive vice president agency, WFG National Title Insurance Co., and Francis “Trip” Riley, partner, Saul Ewing Arnstein & Lehr LP, will lead the session, “Vetting Your Vendors.”
The session will look into what you need to be requiring and monitoring with your vendors.
“The COVID pandemic and the logistical issues it has created have only increased the compliance concerns for title agents using fourth-party providers as well as requirements that lenders and regulators now demand of title and settlement agents,” Cain said. “Compounded by heightened data privacy and cybersecurity concerns, title agents have never more needed clarity as to their internal policies, procedures and controls. In this session, you will hear the current state of the industry, as well as forward looking programs you can do to be prepared for what is coming next.”
Finally, JetClosing Vice President of Title Alan Chang and RynohLive Vice President of Sales Lee Swaffield will teach you how to take advantage of the opportunities and beware of the risks involved in today’s escrow industry in the session, “Escrow Opportunities and Risks.”
For more information on the 2020 NS3, including the agenda and a list of speakers, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone.