ALTA® Members Participate in Teleconference With HUD on RESPA Reform

April 22, 2008

Over 100 ALTA members participated in a conference call with senior staff from HUD on the proposed RESPA regulation. Gary Cunningham, Deputy Assistant Secretary; Ivy Jackson, Director of RESPA; and staff from the General Counsel's office joined ALTA CEO Kurt Pfotenhauer and V.P. of Public Policy Ed Miller in discussing legal and practical ramifications of the proposal on the title and settlement industry. Issue areas covered included the proposed closing script; volume discounting and average cost pricing; and the new proposed GFE and HUD 1 forms. HUD urged all interested members of ALTA to submit comments before the comment period deadline of May 13th. They will consider all comments submitted as they refine their proposal. To read the rule and economic analysis, ALTA's list of issues, and to submit comments, follow this link.