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 10
... Faith Estimate disclo- sures . The Guaranteed Mortgage Package , we think , has a lot of good ideas and we support it , so long as it , in fact , is a guarantee of both closing costs and points and interest rate . That is crucial . If ...
... Faith Estimate disclo- sures . The Guaranteed Mortgage Package , we think , has a lot of good ideas and we support it , so long as it , in fact , is a guarantee of both closing costs and points and interest rate . That is crucial . If ...
Page 15
... Faith Estimate form . Our proposal will strengthen , simplify and clarify the disclosure of costs provided to ... calculation of net loan origination charge , but not including the same for all origina- tors , HUD is complicating the ...
... Faith Estimate form . Our proposal will strengthen , simplify and clarify the disclosure of costs provided to ... calculation of net loan origination charge , but not including the same for all origina- tors , HUD is complicating the ...
Page 17
... Faith Estimate must re- main a viable alternative for those lenders who do not wish to package or who are unable to do so . It is simply too dangerous to dramatically change Good Faith Estimate procedures while simul- taneously ...
... Faith Estimate must re- main a viable alternative for those lenders who do not wish to package or who are unable to do so . It is simply too dangerous to dramatically change Good Faith Estimate procedures while simul- taneously ...
Page 18
... Faith Estimate should be postponed , re - exam- ined and adjusted as the Guaranteed Mortgage Package is being tested . ACB members stand ready to work with the members of the com- mittee and HUD to complete the RESPA reform process in ...
... Faith Estimate should be postponed , re - exam- ined and adjusted as the Guaranteed Mortgage Package is being tested . ACB members stand ready to work with the members of the com- mittee and HUD to complete the RESPA reform process in ...
Page 19
... Faith Estimate and the Guaranteed Mortgage Package have an alternative that is based upon a days- until - closing threshold for providing final quotes and guarantees . For example , a lender would provide preliminary estimates at the ...
... Faith Estimate and the Guaranteed Mortgage Package have an alternative that is based upon a days- until - closing threshold for providing final quotes and guarantees . For example , a lender would provide preliminary estimates at the ...
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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.
Page 460 - Association brings together all categories of banking institutions to best represent the interests of the rapidly changing industry. Its membership which includes community, regional and money center banks and holding companies, as well as savings associations, trust companies and savings banks makes ABA the largest banking trade .association in the country.
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.