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The Department of Housing and Urban Development ("HUD") implemented new changes in RESPA, the Federal Reserve introduced a new Truth-in-Lending disclosure form and a new HUD-1 Settlement Sheet and Good Faith Estimate made its way into our transactions.
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Once upon a time, not so very long ago, there was a boom in the real estate market. While the overall real estate market has cooled, there is one facet of real estate that is still booming – gas. Or more specifically, the conveyance and leasing of gas and oil rights in...
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Private transfer fees are a hot topic in real estate law across the country. Private transfer fees are covenants attached to the land requiring a transfer fee (read private tax) to be paid to an identified third party, such as the developer.
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The rule is intended to protect lesbian, gay, bisexual and transgender (LGBT) individuals against discrimination by keeping rental housing and home ownership properties open to all. HUD’s proposed rule will prohibit inquiries about a prospective renter’s or homebuyer’s sexual orientation or gender identity.
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Under RESPA (Real Estate Settlement Procedures Act), should a lender list a charge for appraisal on the Good Faith Estimate (GFE) if the firm is using a prior appraisal that will not be charged to the borrower?
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Effective immediately, duly licensed real brokers may participate as listing or selling brokers under the U.S. Federal Housing Administration’s Management and Marketing III program.
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Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development (HUD), recently announced that certain types of loans designed to help low- to moderate- income borrowers are exempt from the principal disclosure requirements found in Sections 4 and 5 of the Real Estate Settlement Procedures Act (RESPA).
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One of the sticking points last year in HUD’s proposed changes to the Real Estate Settlement and Procedures Act (RESPA) was a proposed change to the prohibition against “required use” that would have limited or prevented a builder from offering incentives such as a finished basement or free upgrade to buyers who used the...
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We have written several articles over the years pertaining to quantum of land, square footage and the buyers’ obligation to make sure the house is everything (or mostly everything) they want it to be. A recent decision from the Oklahoma Supreme Court identifies some issues that licensees need to consider.
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Tuesday, Feb. 7, 2012
