Industry NewsMortgage

HUD may pull restrictions on builders’ incentives

No new 'required use' provision till July -- if ever
Published on Mar 10, 2009

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by CareyBot

Federal regulators propose to withdraw a RESPA rule change that would bar home builders from offering consumers incentives that require them to use the builders' affiliated mortgage and title insurance companies.

It's unclear whether the change -- which the National Association of Home Builders has gone to court to block -- will actually be scrapped, and if so, whether regulators will go back to the drawing board and launch a public process to rewrite it. But HUD promises that implementation of any rule won't come before mid-summer.

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