Coming down the stretch, the National Association of Realtors has finally told the Department of Housing and Urban Development that it favors a two-package approach to RESPA reform.All year, NAR has opposed HUD's proposal that would allow a single packager to bundle all mortgage and settlement services into a guaranteed mortgage package, claiming it would allow lenders to control the entire packaging process. But the trade group shied way from publicly embracing the alternative -- splitting it into a lender package and a settlement services package -- until recently. "Two packages are better than one and we believe would encourage greater market competition and reduce costs to consumers," NAR chief economist David Lereah said.
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