RESPA: Computer Loan Origination Fees
HUD still struggles to find the right solution for computer loan originations. Computer loan originations are designed to help consumers shop for loans. Services may take applications and perform other services identified in RESPA. Fundamentally, however, they function as a referral service. If you are presently using a CLO, or considering doing so, pay close attention to RESPA. We'll keep you posted.
Copyright © 1996 Compliance Action. Originally appeared in Compliance Action, Vol. 1, No. 8, 5/96
First published on 05/01/1996