Judge throws out RESPA rule challenge 
Mortgage brokers must credit rebates to borrowers
By Matt Carter, Friday, July 31, 2009.Unless Congress says otherwise, mortgage brokers will have to disclose rebates paid by lenders and credit them against borrowers' closing costs beginning Jan. 1, following a judge's dismissal of a trade group's lawsuit challenging the new rules.
The ruling clears one potential obstacle to implementation of new loan disclosures and other changes to the Real Estate Settlement Procedures Act (RESPA) put forward last year by the Department of Housing and Urban Development (HUD).
more...
Premium Member account.
Premium Members have full access to all news archives & premium content.
Purchase Premium+ Membership for $99/year OR
Premium Membership for $49/year
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
