hud1: HUD To "Restrain" Enforcement Of New RESPA Rules, New GFE/HUD-1 Forms For 120 Days - 11/14/09 09:30 AM
The U.S. Department of Housing and Urban Development (HUD) announced on Friday that it will implement a 120 day delay in enforcing new, sweeping regulatory changes to the Real Estate Settlement Procedures Act (RESPA) set to go into effect January 1, 2010. The new regulations will still go into effect on January 1, 2010, but the board overseeing enforcement of these new rules will “exercise restraint in enforcing” them.
The major components of the new RESPA reform are the new and substantially revised HUD-1 Settlement Statement and Good Faith Estimate (GFE) of closing costs issued by lenders, settlement agents, and closing … (4 comments)