Real Estate Settlement Procedures Act: Hearings Before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, Second Session, August 8, September 18, 1990, Volume 4 |
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Page 5
... Estimate , while they are still in the re- altor's office . MortgagePower Plus runs on the same computer that the realtor can use to access loan information on as many as 50 or more other lenders . We believe that this type of new ...
... Estimate , while they are still in the re- altor's office . MortgagePower Plus runs on the same computer that the realtor can use to access loan information on as many as 50 or more other lenders . We believe that this type of new ...
Page 27
... estimated to originate between 55 and 65 percent of all residential mortgage lending in the Nation . A mortgage ... Estimate disclo- sures ; completes submission sheets , borrower assertions , and final FNMA Form 1003s , as well as ...
... estimated to originate between 55 and 65 percent of all residential mortgage lending in the Nation . A mortgage ... Estimate disclo- sures ; completes submission sheets , borrower assertions , and final FNMA Form 1003s , as well as ...
Page 66
... estimates of the cost to our econo- my in the last decade for failure to enforce RESPA and other pro- grams — that this is a tremendous cost to our economy of dislocated resources . When you take and pay a difference of % of a ...
... estimates of the cost to our econo- my in the last decade for failure to enforce RESPA and other pro- grams — that this is a tremendous cost to our economy of dislocated resources . When you take and pay a difference of % of a ...
Page 67
... estimated over 1,400 mortgages available at any time . Nobody an be up on all the mortgages . So consumers , they have to turn to the agent . They throw up their hands in confusion after a while ; confusion , it is a great sales ...
... estimated over 1,400 mortgages available at any time . Nobody an be up on all the mortgages . So consumers , they have to turn to the agent . They throw up their hands in confusion after a while ; confusion , it is a great sales ...
Page 76
... estimate provided the buyer would contain disclosure stating that a mortgage broker fee , if any , was charged , was paid by the borrower directly to a participant , and was not required by the lender . In May of 1988 , the Department ...
... estimate provided the buyer would contain disclosure stating that a mortgage broker fee , if any , was charged , was paid by the borrower directly to a participant , and was not required by the lender . In May of 1988 , the Department ...
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Common terms and phrases
additional affiliated Association of Realtors banking benefits borrower pay brokerage business incident buyer Chairman GONZALEZ charge Citibank CLO system Coldwell Banker commenters compensation competition computerized loan origination conflict of interest Congress consumer controlled business arrangement Development disclosure dual agency escrow Estate Settlement Procedures faith estimate Federally related mortgage fiduciary financing franchisees homebuyers HUD-1 settlement statement HUD's industry interest rates involved issue kickbacks lender loan application loan origination systems loan products Mortgage Bankers Association mortgage lenders mortgage origination Mortgage Power MortgagePower offer opinion letters percent person potential programs prohibited proposed rule protection purchase real estate agents real estate broker/agent real estate brokers Real Estate Settlement receive referral fees regulatory related mortgage loan relationship Section seller service providers settlement costs Settlement Procedures Act settlement service steering Subcommittee on Housing sumer thing of value title insurance violation
Popular passages
Page 346 - 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 353 - Any action under this section may be brought in any United States district court, or in any other court of competent jurisdiction, within one year from the date of the occurrence of the violation.
Page 353 - ... in the prescribing of rules and regulations thereunder, or in securing information to serve as a basis for recommending further legislation concerning the matters to which this title relates.
Page 395 - No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person.
Page 346 - No provision of this title imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or interpretation thereof by the...
Page 351 - The franchisor exerts or has authority to exert a significant degree of control over the franchisee's method of operation, including but not limited to, the franchisee's business organization, promotional activities, management, marketing plan or business affairs; or (2) The franchisor gives significant assistance to the franchisee in the latter's method of operation, including, but not limited to, the franchisee's business organization, management, marketing plan, promotional activities...
Page 340 - 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 351 - fractional franchise" means any relationship, as denoted by paragraph (a) of this section, in which the person described therein as a franchisee, or any of the current directors or executive officers thereof, has been in the type of business represented by the franchise relationship for more than 2 years and the parties anticipated, or should have anticipated, at the time the agreement establishing the franchise relationship was reached, that the sales arising from the relationship would represent...
Page 148 - USC § 41 et sea., the Commission is charged with preventing unfair methods of competition and unfair or deceptive acts or practices. The staff of the Federal Trade Commission, upon request by federal, state, and local governmental bodies, regularly analyzes regulatory proposals to identify provisions that may impede competition or increase costs without providing countervailing benefits to consumers. For several years, the Commission staff has examined the competitive effects of various restrictions...
Page 370 - In accepting employment as an agent, the Realtor pledges himself to protect and promote the interests of the client This obligation of absolute fidelity to the client's interest is primary, but it does not relieve the Realtor from the obligation of dealing fairly with all parties to the transaction.