Stricter real estate loan rules in place
Article Abstract:
US banks responded to the increased competition from non-bank entities during the 1980s by placing more money in loans to underdeveloped countries and real estate transactions. Post-deregulation bank failures have, however, threatened the solvency of the Bank Insurance Fund, and the legislative response was the Federal Deposit Insurance Corp Improvement Act of 1991. A uniform rule on standards for real estate lending has been adopted pursuant to this law and applies to depository institutions which are federally insured. The rule is discussed in detail.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Venezuela competition law raises bar for deals; business combinations subject to stricter scrutiny than in EU
Article Abstract:
The Venezuelan Competition Law took effect on Jan 13, 1992, and the law as well as the administrative practice of the Office of the Pro-Competition Superintendent will affect the country's business decisions. The law is, in large part, modeled on articles 85 and 86 of the Treaty of Rome and the body of rules which emerged subsequently to implement the European Union's competition law. European Union competition is therefore, with certain caveats, a basic source of precedent for the law's application and interpretation.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Revisions to RESPA at issue; HUD's proposals on disclosure are assessed
Article Abstract:
The Department of Housing and Urban Development on May 13, 1993 issued a proposed rule implementing the 1992 amendments to the Real Estate Settlement Procedures Act (RESPA). RESPA gives disclosures which must be made to home mortgage borrowers and forbids referral fees. The main disclosures required are an information booklet on home purchase financing and a good-faith estimate of settlement fees. The amendments expanded the law's scope to subordinate-lien and first-lien loans.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Ground cover(up): real estate brokers face higher duty to disclose environmental hazards. Seller beware; burden of disclosing defects shifting to sellers
- Abstracts: Selected litigation issues implicating additional insured endorsements. Discrimination claims: must the insurer defend or indemnify its insured?
- Abstracts: The "experienced franchisor" exemption from registration is quite durable, even when the exempt franchisor is acquired
- Abstracts: Misunderstanding of standing is plaintiffs' pitfall; co-inventors and licensing are among potential complications in bringing infringement suits