The U. S. Department of Housing & Urban Development (HUD) has issued an update to its publication, New RESPA Rule FAQs. These revisions contain new and complex regulations, affecting many aspects of mortgage loan originations, and with most of the regulatory changes scheduled to take full effect on Jan. 1, 2010. The New RESPA Rule FAQs are comprised from industry questions and issues. This most recent update contains several new answers to industry questions plus a new section for reverse mortgages.

Updates to the RESPA FAQs include: Read more

The U.S. Department of Housing & Urban Development (HUD) has release a list of Frequently Asked Questions (FAQs) focused on Home Equity Conversion Mortgages (HECMs) and reverse mortgages. The list details on how the new Good Faith Estimate (GFE) should be filled out after Jan. 1, 2010 when the new Real Estate Settlement Procedures Act (RESPA) rules are enacted. Read more