ClosingCorp: HUD's RESPA plan would deter shopping

Web site operator says proposed changes favor lenders

A company that markets title insurance and other settlement services to consumers over the Internet says proposed changes to federal regulations will discourage comparison shopping.

The Department of Housing and Urban Development claims its proposed changes to the Real Estate Settlement Procedures Act (RESPA) will help consumers save $8.35 billion a year by spurring competition and helping consumers find the best deal on a loan and settlement services.