Tag: RESPA

Say good-bye to the HUD-1 Settlement Statement

The Consumer Financial Protection Bureau (CFPB), by mandate under Dodd-Frank, will soon change our world once again. Just barely two years since the title and mortgage industry was turned upside-down with regulatory changes to the Truth-in-Lending...

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Consumer costs increase with RESPA reform

As is often the case with newly implemented “consumer protection” regulations, the consumer ends up paying more. Today’s mortgage borrowers can expect to pay more as a result of this past year’s RESPA reform, according to a recent study by...

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Thoughts in the wake of RESPA reform

Within three months after my youngest son was hatched, he effectively communicated that he was to be a bit “different” than my first son. Let’s just say my hopes for a simplified version of my first son were dashed early. Similarly, since...

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Exactly how good is the new Good Faith Estimate?

Two months since the new RESPA rule took effect, some mortgage lenders report consumers are asking more questions throughout the homebuying process, while others say consumer confusion has simply taken a new shape. The new rules will hopefully...

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GFE-based quote tool is now RESPA compliant

Washington, D.C. – Lenders navigating new RESPA rules can bank on the accuracy of Federal Title & Escrow Company’s online quote system to prepare their Good Faith Estimates. “Our online quote is accurate to the penny, or we’ll...

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How well do you understand RESPA?

At its core, the Real Estate Settlement Procedures Act, better known as RESPA, is a consumer disclosure and anti-kickback statute intended to alert consumers about their settlement costs and to prohibit kickbacks that could increase the cost...

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