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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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
July 11 -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
July 11 -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11