Alert January 12, 2010

HUD Updates New RESPA Rule FAQs

HUD released an update to its FAQs of the new Real Estate Settlement Procedures Act rules. The update provides guidance on situations where one provider conducts the settlement and another provider performs the remainder of the title-related services. The FAQs give instructions on how to document this arrangement on the GFE and HUD-1, as well as for what should be noted on the “Written List of Providers.”