TITLE: Reforming the Real Estate Settlement Procedure: Review of HUD's Proposed RESPA Rule

CIS-NO: 2003-H371-15  
SOURCE: Committee on Financial Services. House  
DOC-TYPE: Hearing Retrieve the full text of testimony  
DATE: Oct. 3, 2002  
LENGTH: iii+100 p.  
CONG-SESS: 107-2  
ITEM-NO: 1013-C; 1013-D  
SUDOC: Y4.F49/20:107-85  
 
GPO-STOCK-NO: 552-070-29381-7.

SUMMARY:
Committee Serial No. 107-85. Hearing to review HUD proposed rule under the Real Estate Settlement Procedures Act (RESPA) of 1974 to revise the real estate settlement process to improve disclosure of mortgage and other settlement costs to consumers, including provisions to modify the manner in which compensation to mortgage brokers is disclosed to borrowers and to permit loan providers to offer guaranteed packages of settlement services and mortgages to borrowers.
 
Supplementary material (p. 29-100) includes witness's written statement and written replies to Committee questions and submitted statements.

CONTENT-NOTATION: Real estate settlement costs, disclosure requirements revision, HUD proposed rule review

DESCRIPTORS:  
    CONSUMER PROTECTION; DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT; FINANCIAL DISCLOSURE; FINANCIAL INSTITUTIONS; REAL ESTATE SETTLEMENT COSTS; REAL ESTATE SETTLEMENT PROCEDURES ACT

03-H371-15 TESTIMONY NO: 1     Oct. 3, 2002 p. 7-27, 39-100
 
WITNESSES (and witness notations):
   MARTINEZ, MEL R. (Secretary, HUD)
 
STATEMENT AND DISCUSSION:
   Overview of and issues relating to proposed RESPA rule; elaboration on RESPA rule revision proposal.
 
INSERTION:
   -- HUD, "Real Estate Settlement Procedures Act (RESPA); Simplifying and Improving the Process of Obtaining Mortgages To Reduce Settlement Costs to Consumers; Proposed Rule" Federal Register excerpt, July 29, 2002 (p. 49-88).
 
CONTENT NOTATION:
   Real estate settlement costs, disclosure requirements revision, HUD proposed rule review

LOAD-DATE: July 30, 2003