Poll Finds Strong Opposition to RESPA Bundling

A poll by October Research has found significant opposition to the bundled servicing component of proposed reforms of the Real Estate Settlement Procedures Act.Seventy-five percent of those polled said they did not support the bundling component of the rule. Of those, 44% said the rule should be scrapped entirely, with 31% wanting a rule with only the good-faith estimate portion included. Eight percent of respondents wanted the rule to go forward as planned, and 7% preferred a rule containing the bundling provision but not the good-faith estimate. The remaining 10% said they did not have enough information. The approximately 2,000 people polled Oct. 16 were loan originators, independent title companies, real estate attorneys, Realtors, and government officials. The poll was carried out as part of RESPA radio, a forum on the proposed rules.