HUD releases mandatory settlement cost booklet under RESPA rule

Dec 17, 2009

The U.S. Department of Housing & Urban Development (HUD) has released "Shopping for Your Home Loan: HUD's Settlement Cost Booklet." Under the Real Estate Settlement and Procedures Act (RESPA) Final Rule taking effect Jan. 1, 2010, lenders and mortgage brokers are required to provide borrowers with this booklet within three days of when the borrower applies for a loan. For a copy of the Settlement Cost Booklet, click here. For more information, visit www.hud.gov.

About the author

NationalMortgageProfessional.com

Link copied

Published

Dec 17, 2009

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....