Real Estate Settlement Procedures Act (RESPA): Hearing Before the Subcommittee on Housing and Urban Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred First Congress, Second Session ... September 19, 1990, Volume 4

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Page 105 - 3 These comments are the views of the staff of the Bureau of Economics of the Federal Trade Commission. They arc not necessarily the views of the Commission or of any individual Commissioner. Please contact staff economist Carolyn A. Woj at (202) 326-3434 should you have any questions, regarding our comments. 4 NPRM at
Page 71 - costs of the settlement process and are protected from unnecessarily high settlement charges caused by certain abusive practices." (Emphasis added) These principles are as important today as they were in 1974. We believe that any new mortgage origination programs should be encouraged as long as they adhere to these principles,
Page 29 - STATEMENT OF HONORABLE FRANCIS A. KEATING GENERAL COUNSEL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT BEFORE THE SUBCOMMITTEE ON HOUSING AND URBAN AFFAIRS SENATE COMMITTEE ON BANKING, HOUSING AND URBAN
Page 101 - A copy of each agreement shall be furnished to each party upon his signing such agreement. Standard of Practice 21-13 "On unlisted property, the REALTOR*, acting as the agent of buyer, shall disclose that relationship to the seller at first contact. (Cross reference Article 7*.)' (Approved 5/88) Standard of Practice 21-14 The REALTOR*, acting
Page 101 - 20, Standard of Practice 21-12 The REALTOR*, acting as the agent of the buyer, shall disclose that relationship to the seller's agent at first contact (Cross-reference Article 7*.)' (Approved 5/88) The REALTOR*, for the protection of all parties, shall see that financial obligations and commitments regarding real estate transactions are in writing, expressing the exact agreement of the
Page 29 - Chairman and members of the Subcommittee, the Department of Housing and Urban Development appreciates your invitation to appear before the Subcommittee to discuss the Real Estate Settlement Procedures Act (RESPA). Secretary Kemp and I appreciate
Page 66 - New York to provide information, education, and counsel about consumer goods and services and the management of family income. Consumers Union's income is derived solely from the sale of Consumers Reports, its other publications and films. Expenses of occasional public service efforts may be met, in part, by non restrictive, noncommercial contributions, grants, and fees. In addition to reports on Consumers Union's own product testing, Consumer Reports. with approximately
Page 93 - defined, the Task Force upheld its policy recommendation in opposition to payment for simple referrals within this corporate structure. 10 The Final Policy Adopted by the Board of Directors, February 6, 1989: Where a real estate broker/agent provides services in addition to or different from those he/she is obligated to provide bv his/her
Page 101 - pledges himself to protect and promote the interests of the client. This obligation of absolute fidelity to the client's interests is primary, but it does not relieve the REALTOR* of the obligation to treat fairly
Page 75 - lenders should reverify any information (such as, salary, income, bank accounts, credit reports, debts, etc.) provided to them by third parties when making the underwriting analysis, in order to prevent fraud and ensure appropriate quality controls. Information collected by individuals with a vested interest in the closing of a loan