Real Estate Settlement Procedures Act: Hearings Before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, Second Session, August 8, September 18, 1990, Volume 4
United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development
U.S. Government Printing Office, 1990 - Government publications - 575 pages
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additional agency allow amount application approved Association bankers banking believe benefits borrower brokerage buyer Chairman changes charge Citicorp CLOs closing commission compensation competition Congress consumer controlled business costs create customers Department Development disclosure dual agency escrow example exemption existing fact Federal financing give Gonzalez Housing increase industry interest involved issue kickbacks lender letter Line loan origination mortgage broker mortgage loan obtain offer opinion paid particular parties payment percent performed person position potential practices programs prohibited proposed protect purchase question rates real estate agents real estate brokers realtor reasonable receive referral fees regulations relationship represent RESPA rule Section seller settlement service statement steering transaction violation
Page 342 - System, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
Page 349 - ... in the prescribing of rules and regulations thereunder, or in securing information to serve as a basis for recommending further legislation concerning the matters to which this title relates.
Page 391 - No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person.
Page 342 - No provision of this title imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or interpretation thereof by the...
Page 347 - The franchisor exerts or has authority to exert a significant degree of control over the franchisee's method of operation, including but not limited to, the franchisee's business organization, promotional activities, management, marketing plan or business affairs; or (2) The franchisor gives significant assistance to the franchisee in the latter's method of operation, including, but not limited to, the franchisee's business organization, management, marketing plan, promotional activities...
Page 336 - Affairs, the Federal Home Loan Bank Board, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Secretary of Agriculture.
Page 347 - fractional franchise" means any relationship, as denoted by paragraph (a) of this section, in which the person described therein as a franchisee, or any of the current directors or executive officers thereof, has been in the type of business represented by the franchise relationship for more than 2 years and the parties anticipated, or should have anticipated, at the time the agreement establishing the franchise relationship was reached, that the sales arising from the relationship would represent...
Page 148 - USC § 41 et sea., the Commission is charged with preventing unfair methods of competition and unfair or deceptive acts or practices. The staff of the Federal Trade Commission, upon request by federal, state, and local governmental bodies, regularly analyzes regulatory proposals to identify provisions that may impede competition or increase costs without providing countervailing benefits to consumers. For several years, the Commission staff has examined the competitive effects of various restrictions...
Page 366 - In accepting employment as an agent, the Realtor pledges himself to protect and promote the interests of the client This obligation of absolute fidelity to the client's interest is primary, but it does not relieve the Realtor from the obligation of dealing fairly with all parties to the transaction.