RESPA revisited: new proposed rule on broker fee disclosure, volume pricing, and overages

Article Abstract:

The Dept. of Housing and Urban Development (HUD) is working with the lending industry and consumer advocacy groups to make certain revisions in the Real Estate Settlement Procedures Act (RESPA). The HUD is seeking comments from the lending industry and consumer representatives on whether indirect fees should be disclosed and how such disclosure would benefit borrowers. The agency is also asking whether servicing release premiums, rate differentials, indirect payments and back-end payments should be permitted under RESPA.

Housing Programs, Administration of Housing Programs, Laws, regulations and rules, Housing, Housing policy, United States. Department of Housing and Urban Development, Mortgage brokers

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U.S. Department of Justice fair lending settlements: selected terms and provisions

Article Abstract:

Several decisions made by the US Dept. of Justice on violations of fair lending laws reflect its policy of allowing equal opportunities for whites and minorities to acquire loans from lending institutions. Four institutions that were found to have unfairly discriminated between white and black loan applicants were asked to extend their services to minority communities. They were also asked to train their employees on fair lending policies as well as hire minority employees and reevaluate rejected loans.

United States. Department of Justice, Social policy, Savings and loan associations

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How the Year 2000 bug will hurt real estate lenders

Article Abstract:

Real estate lenders should be aware of the problems that may be posed by the millennium bug. They are encouraged to conduct an audit of technical systems that may be affected by the Year 2000 transition and to conduct a legal audit to evaluate the scope of lender rights and obligations to correct problems that have been discovered. Likewise, they are encouraged to avoid infringement claims by reviewing the license agreement with the software company contracted to solve the problem.

Real Estate, Real Estate and Rental and Leasing, Management, Software, Year 2000 transition (Computers), Real property, Commercial loans

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