HUD to Toughen RESPA Enforcement with Policy Statement, Regulatory Proposals to Track Certain Fundamental Principles
March 4, 2002
The Department of Housing and Urban Development will ramp up its enforcement of the Real Estate Settlement Procedures Act this year, using the 2001 policy statement on broker fee compensation as its main guidance until broader regulatory proposals are issued, said a top HUD official. Kenneth Markison, HUD assistant general counsel, said the agency is working “as quickly as it can” to meet HUD Secretary Mel Martinez’ 90-day timeframe for producing the long-awaited proposed RESPA