Reform of the Real Estate Settlement Procedures Act (RESPA)


The Dodd-Frank Act requires that by July 21, 2012, the Consumer Finance Protection Bureau (CFPB) issue for public comment forms that combine mortgage disclosures under the Truth in Lending Act (TILA) and the disclosures at time of application and settlement under the Real Estate Settlement Procedures Act (RESPA).


Issues Update
Date
4/13/2012 MBA Issue Brief on RESPA and TILA Simplification
2/15/2012 Joint Trade Letter on RESPA and TILA "Know Before You Owe" Rounds 7 and 8
12/5/2011 Joint Trade Letter on RESPA and TILA "Know Before You Owe" Round 6
1/27/2012 Industry Trade Letter to CFPB Director Cordray on RESPA and TILA Disclosure Synchronization and Simplification
10/26/2011 MBA Comment Letter on RESPA and TILA Disclosure Forms
9/19/2011 MBA Comment Letter to CFPB on Round 4 of "Know Before You Owe" RESPA and TILA Disclosures
5/27/2011 MBA Letter to Elizabeth Warren about RESPA and TILA Disclosure Forms
2/28/2011 Joint Trade Letter to the Fed Board of Governors about the Mortgage Disclosure Improvement Act (MDIA) Interim Final Regulation
9/9/2010 MBA Comment Letter on RESPA's "Required Use" Prohibition, Advance Notice of Proposed Rulemaking
10/13/09 Joint Trade Letter on Defects with Changing RESPA Requirements and Need For Alternative Implementation Schedule
5/14/2009 Industry Letter on RESPA and TILA Disclosures
4/27/2009 Joint Trade Letter on RESPA Amendment in Congress
2/9/2009 MBA Urges Withdrawl of RESPA Rule and Coordination with TILA Rulemaking
12/16/2008 MBA Responds on the Record on RESPA
11/14/2008 MBA Summary: Key Points in RESPA Rule
11/12/2008 MBA Commends HUD's Effort to Reform RESPA
6/11/2008
MBA Comment Letter: MBA Issues Formal Comments on HUD's RESPA Proposal
5/22/2008 MBA Testimony: “The Real Estate Settlement Procedures Act (RESPA) and Its Impact on Small Business”
3/14/2008 MBA Press Release: MBA Applauds HUD for Proposed RESPA Rule, Cautions About Potential for Consumer Confusion
2/29/2008 MBA Policy Paper: Preliminary Review of HUD’s Forthcoming Proposed RESPA Rule


HUD RESPA Resources
  • HUD RESPA Homepage 
  • HUD 2004 RESPA Forum PowerPoint
  • HUD 2002 Proposed RESPA Rule
    RESPA Reform Proposed Rule 3-14-08