NAMB: RESPA Reform to Take Shape Soon

Officials of the National Association of Mortgage Brokers expect to see the latest effort to propose RESPA reform take shape this Friday, members of the group told attendees at their annual conference.Department of Housing and Urban Development officials are working on a "plan of action" for the latest proposal to reform the Real Estate Settlement Procedures Act, according to Roy DeLoach, vice president of government affairs at the NAMB. NAMB officials said they believe Washington official' approach is better this time around in that the latter have indicated they want to build an "80% consensus" on the issue. Incoming NAMB president Jim Nabors said the association just wants to make sure the NAMB "is in that 80%."