Developments in Washington yesterday have changed my plans. I had been posting portions of the Federal Register dealing with RESPAs intention to change the HUD and GFE. Seems yesterday The House Financial Services Committee yesterday voted to amend the Mortgage Reform and Anti-Predatory Lending Act (the "Act") to require HUD to suspend the implementation of its new Good Faith Estimate and HUD-1 Settlement Statement, and instead to work with the Federal Reserve Board to publish a proposed joint rule with comparable Real Estate Settlement Procedures Act ("RESPA") and Truth in Lending Act ("TILA") disclosures within six months of enactment of the Act, and a final joint rule with comparable RESPA/TILA disclosures within one year of its enactment.
The House Financial Services Committee will continue marking up the Act and once the amended Act is approved by the Committee, it will go to the House for a floor vote. The Senate is likely to introduce and pass its own mortgage reform bill (which may or may not include the suspension of the GFE and HUD-1 and the directive to HUD to work with the Federal Reserve Board on disclosures), after which the House and Senate must resolve any differences in a conference. This going to delay an effective changes for quite some time.
I’ll keep you posted
Continuing Education for Title Agents
Free classifieds for the Title Industry
Posted via email from Title Insurance This is a multipart message in MIME format. ——=_NextPart_000_000A_01C9CA29.E36D22A0 ——=_NextPart_001_000B_01C9CA29.E36D22A0 Developments in Washington yesterday have changed my plans. I had been The House Financial Services Committee will continue marking up the Act and I’ll keep you posted Continuing Education for Title Agents Free classifieds for the btn_viewmy_160x33 ——=_NextPart_001_000B_01C9CA29.E36D22A0 v:* {behavior:url(#default#VML);} Developments in Washington yesterday have changed my plans. I = The = I’ll keep Continuing Education for Title Agents Free classifieds for the Title = ——=_NextPart_001_000B_01C9CA29.E36D22A0– ——=_NextPart_000_000A_01C9CA29.E36D22A0 R0lGODlhoAAhAOYAAP////j8/vf39+74/PH4+u/v7+Xx9t/v9dbv9+bm5tDs9svq9c/m8Mbo9N7e ——=_NextPart_000_000A_01C9CA29.E36D22A0–
Continuing Ed for Title Agents
HUD-1 changes may be on hold
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posting portions of the Federal Register dealing with RESPAs intention to
change the HUD and GFE. Seems yesterday The House Financial Services
Committee yesterday voted to amend the Mortgage Reform and Anti-Predatory
Lending Act (the “Act”) to require HUD to suspend the implementation of its
new Good Faith Estimate and HUD-1 Settlement Statement, and instead to work
with the Federal Reserve Board to publish a proposed joint rule with
comparable Real Estate Settlement Procedures Act (“RESPA”) and Truth in
Lending Act (“TILA”) disclosures within six months of enactment of the Act,
and a final joint rule with comparable RESPA/TILA disclosures within one
year of its enactment.
once the amended Act is approved by the Committee, it will go to the House
for a floor vote. The Senate is likely to introduce and pass its own
mortgage reform bill (which may or may not include the suspension of the GFE
and HUD-1 and the directive to HUD to work with the Federal Reserve Board on
disclosures), after which the House and Senate must resolve any differences
in a conference. This going to delay an effective changes for quite some
time.
Title Industry
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had been
posting portions of the Federal Register dealing with RESPAs intention =
to
change the HUD and GFE. Seems yesterday The House Financial =
Services
Committee yesterday voted to amend the Mortgage Reform and =
Anti-Predatory
Lending Act (the "Act") to require HUD to suspend the =
implementation
of its new Good Faith Estimate and HUD-1 Settlement Statement, and =
instead to
work with the Federal Reserve Board to publish a proposed joint rule =
with
comparable Real Estate Settlement Procedures Act ("RESPA") and =
Truth
in Lending Act ("TILA") disclosures within six months of =
enactment of
the Act, and a final joint rule with comparable RESPA/TILA disclosures =
within
one year of its enactment.
House
Financial Services Committee will continue marking up the Act and once =
the
amended Act is approved by the Committee, it will go to the House for a =
floor
vote. The Senate is likely to introduce and pass its own mortgage reform =
bill
(which may or may not include the suspension of the GFE and HUD-1 and =
the
directive to HUD to work with the Federal Reserve Board on disclosures), =
after
which the House and Senate must resolve any differences in a =
conference. This
going to delay an effective changes for quite some =
time.
you posted
Industry
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