RESPA Archive

Using Facebook to Generate Offline Referrals

Facebook: is it friend or foe when it comes to building your business? On the face of it, a social media site like Facebook would seem to be a no-brainer for reaching out to people when they’re ready to...
October 24, 2016

Live Webcast: Understand Closing Process Changes

By now you’ve heard about the big changes coming to the closing table in the months ahead. Starting soon, the HUD-1 settlement form, the Good Faith Estimate, and the Truth in Lending Act disclosure are going away. They’ll be...
July 1, 2015

Understand the Oct. 3 Changes to HUD-1, Closing Process

The days of filling out the HUD-1 settlement form and getting a Good Faith Estimate (GFE) from the lender are winding down. On August 1, those two forms are going away. The Truth in Lending Act (TILA) disclosure form...
February 17, 2015

Key Step Toward RESPA Home Warranty Win

Legislation passed by the U.S. House of Representatives Wednesday clarifies that home warranties are not a settlement service under the Real Estate Settlement Procedures Act (RESPA). NAR strongly supports the legislation. For nearly two decades, the U.S. Department of...
August 3, 2012

Proposed HUD-1, GFE Revamp: Too Much?

About two years ago, the U.S. Department of Housing and Urban Development revamped the HUD-1 Settlement Statement and the Good Faith Estimate (GFE). Among other things, the forms were shortened and some “tolerances” were added to decrease the incidences...
July 19, 2012

Supreme Court Provides Clarity on Brokerages’ Administrative Fees

The U.S. Supreme Court last week provided real estate brokers a lot of clarity about administrative fees charged by brokerages when it ruled in favor of Quicken Loans in a lawsuit over unearned fees in the Real Estate Settlement...

Supreme Court Rules Fee Split Required for RESPA Violation

From NAR Legal Affairs: Resolving a circuit split in the manner urged by NAR, the Court rules that RESPA requires a fee split of a settlement-service fee for a §2607(b) violation. In a case involving mortgage lending but which...

Court Side: Supreme Court Should Settle Contentious RESPA Issue

News Flash: On May 24, the Supreme Court decided in favor of NAR’s position on the Quicken case (discussed in this April 30 post). Here’s a link to the decision. Guidance from NAR will be forthcoming soon. Earlier this...
April 30, 2012

Why We Do What We Do

By Kelly Killian, Manager of Editorial Development, REALTOR.org NAR received the following e-mail last week from a Washington-state REALTOR®, and it served as a thoughtful and important reminder of why we — and all of you — do what...
February 22, 2011

Making Sense of the New GFE, HUD-1

By Robert Freedman, Senior Editor, REALTOR® Magazine In this video how-to, you’ll find a page-by-page walk-through on what goes where. The new Good Faith Estimate and HUD-1 settlement form have been in effect since January 1. The federal government’s...
January 13, 2010