Industry News

HUD hosts third RESPA reform talk

Small businesses to sound off on reform plans

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The U.S. Department of Housing and Urban Development this Thursday will host its third roundtable discussion on improving the home-buying process. The forum, co-hosted by the Small Business Administration, is slated for Thursday from 1 p.m. to 5 p.m. at HUD's regional office on Cherry Street in Ft. Worth, Texas. The event is the third in a series HUD has planned to get input from consumers and industry professionals on how to improve the mortgage settlement process. Attendees will include representatives from HUD and SBA and invited representatives from small- to medium-sized businesses. Reform of the Real Estate Settlement Procedures Act, or RESPA, has been an issue for years. Alphonso Jackson, U.S. Housing and Urban Development secretary, in late April promised members of a national mortgage banking association to seek their input on reform of RESPA. The housing agency has attempted to simplify the home-buying process for consumers by making changes to RESPA, which regulates th...