The House Financial Services Committee approved a bill that would roll back the requirements of the TILA-RESPA integrated disclosures rule for charities like Habitat for Humanity and instead allow them to use the old good faith estimate and HUD-1 mortgage forms.
One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending.
Mortgage lenders are embracing the broker-wholesale channel as a low-cost way to extend their reach and maintain volume in the face of rising home prices and interest rates that are putting a damper on origination activity.
Transfer taxes, settlement services and other home buying fees can vary wildly from state to state. Here's a look at the 10 states where home buyers need the least amount of cash to cover their closing costs.