Real Estate Settlement Procedures Act (Respa) : Hearing Before the Subcommittee On Housing And Urban Affairs of the Committee On Banking, Housing, And Urban Affairs, United States Senate, One Hundred First Congress, Second Session ... September 19, 1990
Real Estate Settlement Procedures Act (Respa) : Hearing Before the Subcommittee On Housing And Urban Affairs of the Committee On Banking, Housing, And Urban Affairs, United States Senate, One Hundred First Congress, Second Session ... September 19, 1990
United States. Congress. Senate. Committee On Banking, Housing, And Urban Affairs. Subcommittee On Housing And Urban Affairs
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35-925 - 90 - 2 Digitized by Google 30 2 Secretary Kenqp has made clear over the past* year his strong commitment to ensuring that HDD's jprograms operate for the fullest benefit of those they are intended to serve. TTherefore, let me state at the outset that HUD takes very seriously its role of protecting the homebuying consumer by ensuring that RESPA regulations are vigorously enforced, and that illegal kickback and referral schemes are fully investigated and prosecuted. However, Mr. Chairman..., we do not believe that our responsibilities under RESPA prevent us from encouraging activities that guarantee to the consumer maximnm availability of a range of competing products. We believe it is important to ensure that the consumer has access to information concerning the interest rates and terms offered by different financial institutions. In an era marked by widely competing mortgage products offered by national, regional and local lenders, coming down on the side of the consumer means coming down on the side of innovative ways of marketing those services.
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