Denver, CO (PRWEB) January 6, 2006
Knowledge Factor, a leader in the certification of knowledge and remediation, today announced that it is working in conjunction with the Colorado Mortgage Lenders Association to offer The RESPA Review, a refresher course for real estate and mortgage professionals across the country interested in protecting themselves against the heightened crackdown on RESPA (Real Estate Settlement Procedures Act) violations.
The RESPA Review, an online assessment and training course, methodically advances real estate/mortgage professionals’ knowledge on the RESPA laws and obligations until they master the information they need to know to execute their jobs confidently and without fear of violating federal regulations. From Loan Originators and Real Estate Agents to Appraisers and Title Agents, RESPA is designed as a consumer protection regulation that eliminates kickbacks and referral fees that unnecessarily increase the costs of settlement services and ensures that consumers are informed about settlement services.
“Over the past year, the Department of Housing and Urban Development has become much more assertive in the monitoring and enforcement of RESPA,” said Chris Holbert, President of the Colorado Mortgage Lenders Association. “With this heightened attention, our membership and other real estate organizations across the country are looking for training solutions that can help alleviate some of the risk and liability associated with professionals’ knowledge of the RESPA laws. That is what The RESPA Review was designed to do.”
The affordable course, priced at only $39, is based on an innovative learning system, Knowledge Factor’s Confidence-Based Learning (CBL) Suite, that measures both knowledge and confidence levels. Unlike traditional assessment programs, CBL:
- provides the most accurate assessment ever of exactly what a person knows and doesn’t know, and where doubt and misinformation exist in a person’s knowledge, without guessing skewing the results;
- identifies and corrects misinformation that exists within individuals and organizations that can lead to risk and liability; and
- cultivates a learner’s knowledge and confidence simultaneously.
This unique system can be especially helpful in identifying instances where one may not fully understand the law, but may have a high level of confidence in his or her understanding, which can have major negative consequences including fines up to $10,000 and/or one year in prison for each violation.
“The use of the CBL for CMLA’s RESPA Review course is a perfect application,” said Mark Dreher, CEO of Knowledge Factor. “This refresher course measures and remediates an individual’s knowledge and confidence of the law so employees, employers and the public can rest assured that they won’t be penalized by ignorance.”
Knowledge Factor, Inc.
Founded in 2000, Denver-based Knowledge Factor is a leader in competency assessment and remediation. The Company is the owner of a patented and effective methodology it calls Confidence-Based Assessment™, or CBA™, which for the first time measures both knowledge and confidence and removes the guesswork from training. The Company’s CBL Suite of products measures competency, certifies learning and provides a rapid and targeted learning solution to organizations and individuals. For more information, go to http://www.knowledgefactor.com.