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HUD Reaffirms RESPA Agenda.(Department of Housing and Urban Development)(Real Estate Settlement Procedures Act )(Brief article)
Washington -- The Department of Housing and Urban Development is preparing to issue a Real Estate Settlement Procedures Act reform proposal soon, according to secretary Alphonso Jackson.
The HUD secretary told a congressional panel last week that a proposed rule would probably be issued in 60-90 days, although HUD officials say the rulemaking process will likely take longer.
He indicated to the congressmen that he expects the RESPA proposal will be well received but he did not provide any specifics.
Secretary Jackson also told a meeting of the National Association of Mortgage Brokers last week that it is "too early" to discuss the "substance" of the RESPA proposal. "But I will tell you that there will be a new rule proposed very soon."
It is believed HUD is working with the White House budget office on the final drafts of the RESPA proposal.
The HUD secretary thanked the ...
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Source: HighBeam Research, HUD Reaffirms RESPA Agenda.(Department of Housing and Urban...