HUD Preview of Rule Leaves Industry, Activists Wondering
July 8, 2002
Last month’s preview of a forthcoming proposal to revamp the Real Estate Settlement Procedures Act elicited mixed reactions from industry and community groups, with most withholding judgment until they see the actual proposed rule. Industry and community group representatives who gathered on June 26 to hear details of the proposed RESPA reform rule instead got a broad description that roused old animosities, particularly over the issue of early disclosures and guaranteed closing costs.