RESPA: title insurance and seller pay
Article Abstract:
Guidance issued by HUD addressing section 9 of the Real Estate Settlement Procedures Act suggests that in some cases, sellers can dictate that buyers use a particular title company. Such an arrangement appears to be allowed if the seller is paying for the title transfer. In such cases, the buyers may be able to receive a better loan deal from the same title company if they work with the seller for a 'package deal.' Details are discussed.
Publication Name: Title News
Subject: Insurance
ISSN: 0040-8190
Year: 1995
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RESPA information highway snarl demands immediate attention
Article Abstract:
The Real Estate Settlement Procedures Act needs to be revamped to take into account the speed of information exchange and changes in the real estate industry. The act's disclosure requirements no longer serve their purpose, but merely bog down the closing process in many cases. Borrower and creditor credit information are much more readily available than they once were, making many of the act's safeguards obsolete.
Publication Name: Title News
Subject: Insurance
ISSN: 0040-8190
Year: 1995
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The new RESPA regs: what's wrong, what's right, what's next
Article Abstract:
Clarification of the Department of Housing and Urban Development regulations implementing the Real Estate Settlement Procedures Act of 1974 (RESPA) is needed. The regulations implementing RESPA Section 8 on the prohibition of referral fees and kickbacks and the 1983 controlled business amendments are the most troublesome. Clarification of the 'core title agent services' requirement is also needed.
Publication Name: Title News
Subject: Insurance
ISSN: 0040-8190
Year: 1993
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