Crucial housing issues headed for hearings

Congress eyes RESPA changes, revisits home-buyer aid

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Two Congressional hearings are scheduled Tuesday on issues that could have a big impact housing markets: a proposal to overhaul rules governing settlement procedures, and legislation that would allow the continued use of seller-funded down payment assistance on FHA-backed loans.

RESPA changes

Real estate industry trade groups are all but unanimous in their opposition to the Department of Housing and Urban Development’s proposed changes to the Real Estate Settlement Procedures Act, or RESPA.