Lenders, Providers Remain Uncertain with Section 8(b)
March 4, 2002
Despite efforts by the Department of Housing and Urban Development to promote and explain the 2001 policy statement, front- and back-end transaction players remained tentative about HUD’s view on markups. “We hoped to get clarity but it seems we’re getting more uncertainty,” said a Dallas lawyer. Sheldon Hochberg, a partner in the Washington, DC, law firm of Steptoe & Johnson, blasted the policy statement as an attempt to regulate direct service charges to consumers.