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The Secure and Fair Enforcement Mortgage Licensing Act is about to have a huge negative impact on the value of your home, and I bet you have never even heard of it! That’s right, the U.S. Department of Housing and Urban Development has put together a proposed rule, that if adopted, is going to cause [...]
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I had an interesting conversation with with a residential mortgage lender yesterday regarding the new changes that went into effect on January 1, 2010. For regular readers of our real estate blog, I covered these changes a few months ago in an article about RESPA reform.
His point is that while the changes appear to be [...]
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Congress enacted the Real Estate Settlement Procedures Act (RESPA) back in 1974 in order to address problems in the real estate settlement process. It seems that Congress felt that they could legislate fair business practices and reduce fees and costs to home buyers through enlightenment about the settlement process and the associated costs that go [...]
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