Department of Housing and Urban Development officials have confirmed that they plan to publish a "plan of action" in the Federal Register for the latest proposal to reform the Real Estate Settlement Procedures Act, but they say it may take longer than some observers thought.Officials at the National Association of Mortgage Brokers were expecting to see the department's roadmap for achieving RESPA reform released June 17, but HUD Secretary Alphonso Jackson says he intends to consult with Congress before the department starts working with industry and consumer groups on RESPA reform. The Federal Register notice is expected to lay out the process for those consultations with industry and consumer groups. Congressional consultations are under way, a HUD spokesman said. But "[u]ntil we are satisfied they are done, we are not going to announce our roadmap for RESPA reform," the spokesman said.
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The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.
55m ago -
An appellate court reversed part of an $8.5 million award for attorneys who secured a $38.5 settlement against the lender in 2023 in a False Claims Act case.
1h ago -
Fintech Candid says its AI-powered newsletter platform can scrape social media and public data to help loan officers send hyper-personalized outreach at scale.
2h ago -
Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.
7h ago -
Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.
7h ago -
The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.
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