To further strengthen its relationship with real estate agents and REALTORS® and contribute to education of these professionals, Oriental offered a seminar on recent changes incorporated into the federal statute Settlement Real Estate Procedures Act (RESPA's).

This federal law passed in 1974 regulates the notification about closing costs on a mortgage. Among the most important changes discussed are reform of the escrow accounts and the prohibition of bribes in the mortgage closings.

The presentations were made by Mr. Rolando Quevedo Motta, of the Corporation of Legal Compliance and José  R. Medina, Oriental Senior Auditor. They discussed in detail all the changes made to RESPA that have a direct impact on the procedures related to real estate transactions and answered all the questions that Realtors® and brokers were pleased to make.

This seminar is in addition to the series of educational activities carried out continuously by Oriental to keep real estate professionals informed about the latest on the market. This collaboration can provide better service to buyers and sellers of property to those who provide their services and expedite the process of closing any sale transaction.