Sentences with phrase «proposed real estate settlement»

WASHINGTON, D.C. — The U.S. Department of Housing and Urban Development has proposed Real Estate Settlement Procedures Act regulations that would relax restrictions governing employer payments to employees for marketing the settlement services of an affiliated company.

Not exact matches

This fall, HUD will propose reforms to the Real Estate Settlement Procedures Act (RESPA) that would promote comparative shopping by consumers for the best loan terms, provide clearer disclosures, limit settlement cost increases, and require fee dSettlement Procedures Act (RESPA) that would promote comparative shopping by consumers for the best loan terms, provide clearer disclosures, limit settlement cost increases, and require fee dsettlement cost increases, and require fee disclosure.

And in May, NAR celebrated the U.S. Department of Housing and Urban Development's decision to withdraw proposed rule changes that would have given large lenders an advantage over real estate brokers in offering packaged settlement services.

The U.S. Department of Housing and Urban Development sees big consumer savings in the changes proposed earlier this year by HUD Secretary Mel Martinez to the federal Real Estate Settlement and Procedures Act.

National Association of Realtors ® President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., released the following statement in response to the Consumer Financial Protection Bureau's announcement of a proposed two - month delay for the implementation of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, or TRID, regulation.

A good example is the outpouring of REALTOR ® letters to members of Congress early last year urging opposition to a proposed rule by the U.S. Department of Housing and Urban Development to reform the Real Estate Settlement Procedures Act.

Today, the CFPB made good on that promise when it announced a proposed rule on TRID, and stated in their announcement that «the Bureau understands that it is usual, accepted and appropriate for creditors and settlement agents to provide a closing disclosure to consumers, sellers and their real estate brokers or other agents.»

Then in mid-2002, the U.S. Department of Housing and Urban Development proposed offering a safe harbor from federal antikickback rules in the Real Estate Settlement Procedures Act (RESPA) to lenders that offer a package of settlement services to consumers at a guaranteed price, including a guaranteed inteSettlement Procedures Act (RESPA) to lenders that offer a package of settlement services to consumers at a guaranteed price, including a guaranteed intesettlement services to consumers at a guaranteed price, including a guaranteed interest rate.

That's why the National Association of REALTORS ® and other industry groups have been at odds this year with the U.S. Department of Housing and Urban Development over proposed reforms to the Real Estate Settlement Procedures Act that would give an implicit advantage to large lenders.

Given serious concerns with the U.S. Department of Housing and Urban Development's proposed reforms to the Real Estate Settlement Procedures Act, the National Association of REALTORS ® has urged officials in HUD and the White House to rework key aspects of the rule and beef up its analysis of the impact on consumers and industry players.

ROANOKE — Nonlawyers should be barred from conducting real estate closings, the Virginia State Bar Council proposed recently.If approved by the state Supreme Court, the proposal would affect title and settlement companies and others that now do closings, according to the Virginia Association of REALTORS ®.

Recently, NARstepped up its campaign for a congressional overhaul of RESPA, joining with a coalition of real estate settlement providers and consumer groups to draft a proposed new RESPA for the 21st century.

On June 17, National Association of Realtors ® President Chris Polychron released the following statement in response to the Consumer Financial Protection Bureau's announcement of a proposed two - month delay for the implementation of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, or TRID, regulation.

On Monday, the CFPB released their proposed combined mortgage disclosures under the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA).

«The Bureau understands that it is usual, accepted, and appropriate for creditors and settlement agents to provide a closing disclosure to consumers, sellers, and their real estate brokers or other agents,» the CFPB said in its announcement of its proposed changes.

A trade association representing real estate agents anticipated that creditors and settlement agents would be likely to interpret the proposed exemptions cautiously, which would lead to the three - business - day redisclosure period being invoked frequently, imposing costs on consumers.

However, the Bureau did not propose any such definitions and does not believe it would be appropriate to finalize standard descriptions for real estate settlement services in this final rule.

Many commenters, including trade associations representing settlement agents, banks, and real estate agents, title insurance companies, settlement agents, non-depository lenders, and attorneys, were concerned that the proposed exemptions would not cover all potential last - minute changes that presented relatively little consumer risk.

The Bureau further stated that the proposed regulation also could improve consumer understanding and awareness of the transaction by permitting the Closing Disclosure to be completed and provided by settlement agents, who often assist consumers during a real estate closing, which is in the interest of consumers and in the public interest, consistent with Dodd - Frank Act section 1405 (b).