HUD: Consumers will shop for loans

Rule changes could cut into industry profits

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Consumers will be less likely to accept overpriced loans, title insurance, and other services — including those offered by businesses affiliated with real estate brokerages and builders — once new loan disclosure forms and settlement procedures are fully in place at the end of next year.

That’s according to a lengthy review by the Department of Housing and Urban Development of its proposed changes to the Real Estate Settlement Procedures Act.