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The New RESPA Rule: Will It Help Consumers Shop for Mortgage Loans?

The U.S. Department of Housing and Urban Development (HUD) adopted a new Real Estate Settlement Procedures Act (RESPA) reform rule on November 17, 2008. The new rule effected significant changes to Regulation X, most notably, dramatically changing the Good Faith Estimate (GFE), establishing consequences...

NEW HUD Booklet for Immediate Use to Comply with RESPA

On January 5, 2010, the U.S. Department of Housing and Urban Development (HUD) published in the Federal Register a notice announcing the availability on its Web site of the revised special information booklet required by the Real Estate Settlement Procedures Act (RESPA) to be given to homebuyers applying...

Robert M. Jaworski on RESPA: Spring Is in the Air -- An Assessment of the New Year's Day 2010 GFE/HUD-1 Rules Changes

In this Analysis, Robert M. Jaworski examines the important Real Estate Settlement Procedures Act (RESPA) changes implementing the new Good Faith Estimate (GFE) and HUD-1/1A effective January 1, 2010. Mr. Jaworski provides a recap of the new rules, identifies important implementation issues, and...

Robert M. Jaworski on RESPA: Spring Is in the Air -- An Assessment of the New Year's Day 2010 GFE/HUD-1 Rules Changes

In this Analysis, Robert M. Jaworski examines the important Real Estate Settlement Procedures Act (RESPA) changes implementing the new Good Faith Estimate (GFE) and HUD-1/1A effective January 1, 2010. Mr. Jaworski provides a recap of the new rules, identifies important implementation issues, and...

CFPB Releases New Simpler Mortgage Disclosure Forms to Aid Consumers in Understanding Loan Process and Costs

By David N. Anthony , John C. Lynch , Nicola Harrison , and Scott Kelly The Consumer Financial Protection Bureau (CFPB) has released a new rule , requiring simpler and more streamlined “Know Before You Owe” mortgage disclosure forms. The streamlined forms are designed to facilitate...

CFPB Issues RESPA-TILA Integrated Disclosures Final Rule

BY: ALAN B. CLARK AND EDMUND D. HARLLEE The Consumer Financial Protection Bureau (the “CFPB”) has issued the RESPA-TILA Integrated Disclosures Final Rule . The 1,888 page rule [ enhanced version available to lexis.com subscribers ], will become effective for applications taken on or...