Senate panel examines RESPA reform. (Industry and Institute News).

From: Valuation Insights & Perspectives | Date: March 22, 2003 | Copyright information

On April 8, the Senate Banking Committee held its second hearing on the RESPA reform proposal published in July 2002 by the Department of Housing and Urban Development. Witnesses included Rep. Donald Manzullo, R-Ill., Chairman of the House Committee on Small Business, several representatives of the mortgage lending, real estate, title insurance, and mortgage broker industries, and consumer advocates.

Committee Chairman Richard Shelby, R-Ala., said that while the goals of HUD's reform are laudable, he believes the HUD proposal is anti-competitive, damaging to small businesses, ...

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