RESPA reform luncheon coming up
Mortgage banking and consumer finance expert Holly Spencer Bunting will discuss the new RESPA rule, which goes into effect on the first of the year. Bring your questions for a Q&A session immediately following the presentation. Here's what Holly had to say about her upcoming presentation:
Despite the U.S. Department of Housing and Urban Development's ("HUD" or "Department") publication of its final rule to amend the Real Estate Settlement Procedures Act ("RESPA") in November 2008, the rule continues to stir controversy as the effective date for the new HUD-1 Settlement Statement and Good Faith Estimate draws closer. While there is still hope that HUD will delay implementation of the new forms until the Department coordinates its efforts with the Federal Reserve, settlement service providers are gearing up for the January 1, 2010 effective date. This session will provide an in-depth overview of the components of HUD's final RESPA rule and the new HUD-1 and GFE disclosure forms.