For NAHB, Legal Challenge of ‘Required Use’ was Inevitable
January 5, 2009
No provision in the new Real Estate Settlement Procedures Act reform rule has caused more of a firestorm than the changes made to the rule’s “required use” provision. Homebuilders that own a mortgage company or a title agency are the hardest hit by the revised definition of “required use,” a key phrase in RESPA’s prohibition of tying a consumer’s use of a particular settlement...