Highlights HUD
has proposed changes to RESPA which provide homebuyers more complete, accurate
and understandable information about their mortgages. These changes will also
help borrowers shop for the best loan.
Consumers
RESPA
is about closing costs and settlement procedures. RESPA requires that consumers
receive disclosures at various times in the transaction and outlaws kickbacks
that increase the cost of settlement services. RESPA is a HUD consumer protection
statute designed to help homebuyers be better shoppers in the home buying process,
and is enforced by HUD.
Industry
Comments
and Questions |