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 12
... Tab 1 of our comment letter to HUD . The GMP is an important element of those proposals for two reasons . First , the proposal will ensure that consumers receive relevant information about a loan's costs early in the process 12.
... Tab 1 of our comment letter to HUD . The GMP is an important element of those proposals for two reasons . First , the proposal will ensure that consumers receive relevant information about a loan's costs early in the process 12.
Page 14
... reason to include them under this rule . We need to give them every tool and motivation to shop . In fact , HOEPA ... reasons . One is that if it became a requirement , all of our lenders would have to focus on implementing those man ...
... reason to include them under this rule . We need to give them every tool and motivation to shop . In fact , HOEPA ... reasons . One is that if it became a requirement , all of our lenders would have to focus on implementing those man ...
Page 18
... reasons . ACB sug- gests that HUD look at the differences in how closings are con- ducted from state to state and at what different state laws may re- quire . In conclusion , ACB believes that - one , mortgage broker fee dis- closures ...
... reasons . ACB sug- gests that HUD look at the differences in how closings are con- ducted from state to state and at what different state laws may re- quire . In conclusion , ACB believes that - one , mortgage broker fee dis- closures ...
Page 28
... reason why I chose to be on this committee . Chairman NEY . I thank the gentleman . Ms. CANFIELD . I will talk to you . Chairman NEY . A response to that ? Mr. TAYLOR . Very quickly . Chairman NEY . You were still yellow . Mr. TAYLOR ...
... reason why I chose to be on this committee . Chairman NEY . I thank the gentleman . Ms. CANFIELD . I will talk to you . Chairman NEY . A response to that ? Mr. TAYLOR . Very quickly . Chairman NEY . You were still yellow . Mr. TAYLOR ...
Page 30
... reasons . And by listening to you , it sounds as though we are he is trying to , of course , lower costs and simplify the process . I think it still comes down - that is really what I want to know- is that going to happen ? Are ...
... reasons . And by listening to you , it sounds as though we are he is trying to , of course , lower costs and simplify the process . I think it still comes down - that is really what I want to know- is that going to happen ? Are ...
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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.