HUD Delays RESPA Rule
|January 16, 2009|
Real Estate Settlement Procedures Act|
Rule To Simplify and Improve the rocess of Obtaining Mortgages and Reduce Consumer Settlement Cost [pdf]
Due to litigation, the Department of Housing and Urban Development delayed the effective date of a rule that would ban builders from offering discounts to homebuyers that use their affiliated mortgage companies. The change was part of a revision to the Real Estate Settlement Procedures Act that was to take effect on Jan. 16 and is being delayed until April 16.