If you’re following the evolution of amendments to RESPA (Real Estate Settlement Procedures Act), you know that HUD's responses to industry, consumer and governmental requests to delay implementing these changes has been “no dice.”
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If you’re following the evolution of amendments to RESPA (Real Estate Settlement Procedures Act), you know that HUD's responses to industry, consumer and governmental requests to delay implementing these changes has been “no dice.”
Read more »
All REALTORS® should know that there are going to be substantial changes in RESPA, and soon! HUD has drastically changed the Good Faith Estimate (“GFE”) that it requires all lenders of federally related, residential mortgages to prepare.
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New changes to Truth in Lending Act disclosures may affect members.
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Under RESPA, REALTORS® can be penalized for what they don’t tell their clients. The Real Estate Settlement Procedures Act is a federal statute enforced by HUD. Brett Woodburn discusses the basics of RESPA.
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Revisions to the Good Faith Estimate and the HUD-1 may actually make settlement smoother for buyers and their agents.
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Shaun Donovan, secretary of the Department of Housing and Urban Development (HUD), announced Tuesday at NAR’s Midyear Meetings in Washington that HUD has withdrawn the proposed “required use” definition in the Real Estate Settlement and Procedures Act (RESPA) overhaul.
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Shortly after being sworn in earlier this week, President Barack Obama issued a stay on all pending regulations of the Bush Administration. It is unclear at the moment what impact this may have on the changes to RESPA.
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Thursday, May. 17, 2012
