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 massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
3h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
7h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
10h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
11h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24