PUBLIC SUBMISSION | As of: November 20, 2009 Tracking No. 803f8526 Comments Due: May 13, 2008 |
Docket: HUD-2008-0028
FR-5180-P-01
Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
Comment On: HUD-2008-0028-0001
FR-5180-P-01: Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
Document: HUD-2008-0028-0004
Comment Submitted by Steve Evans, Stewart Mortgage Services, Inc.
I am all for transparency in our industry, rooting out unethical people and providing
an easier way for borrowers to shop loans. But how can we do this if the banks
aren't regulated in the exact same way? Bank originators don't need to, and do
not, disclose YSP or other fees and this gives them a HUGE opportunity to hide
compensation form the Borrower. If the mission is truley for transparency in the
industry and protecting the borrower, then make the banks follow the same rules!!
Anything short will not accomplish your goals. Thank you!