Simplifying the Home Buying Process: HUD's Proposal to Reform RESPA : Hearing Before the Subcommittee on Housing and Community Opportunity of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eighth Congress, First Session, February 25, 2003 |
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Page 14
... discount points . They now need a simple way to compare and shop for closing costs . Having certain closing costs in one package and other closing costs in another package makes it harder , not easier , to shop for these costs . The ...
... discount points . They now need a simple way to compare and shop for closing costs . Having certain closing costs in one package and other closing costs in another package makes it harder , not easier , to shop for these costs . The ...
Page 31
... discounts and they will say , " Okay , for the first $ 100,000–100,000 loans , we will give you a price we will set at , say , $ 100 a loan . If you bring us 500,000 loans , those appraisal prices are going to go down to $ 50 a loan ...
... discounts and they will say , " Okay , for the first $ 100,000–100,000 loans , we will give you a price we will set at , say , $ 100 a loan . If you bring us 500,000 loans , those appraisal prices are going to go down to $ 50 a loan ...
Page 35
... discount . And as , obviously , you well know , that marketplace changes and now we are into providing closing costs through grades of trade - off , if you will , of the teeter - totter . And all of that new innovation and new financing ...
... discount . And as , obviously , you well know , that marketplace changes and now we are into providing closing costs through grades of trade - off , if you will , of the teeter - totter . And all of that new innovation and new financing ...
Page 65
... discounts , or other price preferences , must be passed on to consumers . Packagers or other parties may not retain ... discount points . Transaction by transaction , buyers and sellers are able to negotiate how costs will be allocated ...
... discounts , or other price preferences , must be passed on to consumers . Packagers or other parties may not retain ... discount points . Transaction by transaction , buyers and sellers are able to negotiate how costs will be allocated ...
Page 66
... discounts . And , of course , all of these costs would be hidden from consumers within the single package price . While we believe that HUD should be commended for recognizing that the current RESPA statute is not as effective as we all ...
... discounts . And , of course , all of these costs would be hidden from consumers within the single package price . While we believe that HUD should be commended for recognizing that the current RESPA statute is not as effective as we all ...
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Common terms and phrases
AARP additional affiliated annual percentage rate application appraisal borrower broker compensation broker fee agreement Chairman NEY changes closing costs competition consumer credit report Department of Housing disclosed discount points ensure escrow Estate Settlement Procedures faith estimate Federal GMP offer GMPA guaranteed loan settlement Guaranteed Mortgage Package guaranteed package HELOCs HOEPA loans homeownership Housing and Urban HUD's Proposed Rule impact increase industry interest rate guarantee issue laws lender loan originators loan product loan settlement charge loan terms marketplace monthly payment mortgage broker fee mortgage insurance mortgage lenders mortgage loan mortgage package agreement option predatory lending prepayment penalty protect Real Estate Settlement Reduce Settlement Costs reform Regulation regulatory RESPA revised GFE safe harbor exemption Section Settlement Procedures Act settlement service providers Simplifying and Improving small business statement subprime third party title insurance transaction Truth in Lending underwriting urge HUD yield spread premiums
Popular passages
Page 198 - System, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
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Page 459 - It is the purpose of this title to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit H 103.
Page 198 - Commission, notwithstanding that such rule, regulation, or order may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
Page 158 - ... and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters excellence and technical know-how among real estate finance professionals through a wide range of educational programs and technical publications. Its membership of...
Page 489 - The Consumer Bankers Association is the recognized voice on retail banking issues in the nation's capital. Member institutions are the leaders in consumer, auto, home equity and education finance, bank sales of investment products, small business services, and community development CBA was founded in 1919 to provide a progressive voice in the retail banking industry.
Page 210 - Affairs, the Federal Home Loan Bank Board, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Secretary of Agriculture.
Page 466 - Act to assure a meaningful disclosure of credit terms so that a prospective debtor will be able to compare more readily the various credit terms available to him and to avoid the uninformed use of credit.
Page 456 - S. 340, as amended, which declares that the business of insurance and every person engaged therein shall be subject to the laws of the several states.
Page 191 - ... in the case of any successful action to enforce the foregoing liability, the costs of the action together with a reasonable attorney's fee as determined by the court.