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Bundled Services Special Report.(Brief Article)
Mortgage Servicing News
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August 01, 2002 |
COPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
For advocates of one-stop shopping for loan settlement services, the words of Department of Housing and Urban Development secretary Mel Martinez were like music. He wants reform of the Real Estate Settlement Procedures Act to facilitate the offering of bundled services. Of course, RESPA reform has been touted for a long time. And there is no guarantee that secretary Martinez will be able to deliver everything that he wants. But it's clear that the Bush administration's point man on housing policy supports the concept of bundled services, and that will go a long way toward bolstering regulatory acceptance of a practice that has already found widespread support in the marketplace.
For now, secretary Martinez's proposal is just a rough draft. But the gist of it is that lenders that offer consumers a guaranteed price for loan closing services would be largely exempt from ...
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Source: HighBeam Research, Bundled Services Special Report.(Brief Article)