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#1277584 - 10/30/09 04:19 PM
RESPA Changes-Vent...
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Foxboro
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Can someone please explain to me the rationale of the new requirement of using a lump sum figure for lender charges (processing, underwriting, etc) and not itemizing it? Isn't that "hiding" what the charges are for vs currently listing each fee and who it is payable to?
I really don't understand how these changes are going to make it easier for borrowers...
This is of course a rhetorical question/comment.
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#1277589 - 10/30/09 04:22 PM
Re: RESPA Changes-Vent...
buggs
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Cheeseheadland
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Eh, whaaats up, Doc?
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#1277590 - 10/30/09 04:22 PM
Re: RESPA Changes-Vent...
TB 12
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idk - but there's a ZERO tolerance if something is incorrect! 
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#1277591 - 10/30/09 04:22 PM
Re: RESPA Changes-Vent...
A_G
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idk - but there's a ZERO tolerance if something is incorrect! depends, for some items, correct.
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#1277592 - 10/30/09 04:23 PM
Re: RESPA Changes-Vent...
A_G
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idk - but there's a ZERO tolerance if something is incorrect! back to the grave, zombie..there are 3 buckets...one with no tolerance, one with 10% and one with no cap.
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#1277596 - 10/30/09 04:24 PM
Re: RESPA Changes-Vent...
TB 12
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nd add the recent FIL just released on Commercial Loan workouts... more fun reading this weekend!!!
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#1277599 - 10/30/09 04:25 PM
Re: RESPA Changes-Vent...
TB 12
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::retracts offer to send Sox the Powerpoint slides:: 
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#1277612 - 10/30/09 04:33 PM
Re: RESPA Changes-Vent...
TB 12
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what's RESPA?
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blah
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#1277678 - 10/30/09 05:29 PM
Re: RESPA Changes-Vent...
Peepers
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<<---has a few choice words for HUD.
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#1277686 - 10/30/09 05:34 PM
Re: RESPA Changes-Vent...
Tigg
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[censored][censored]mother[censored]piece of[censored][censored][censored]half-witted[censored]heads.
Or something like that?
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#1277699 - 10/30/09 05:42 PM
Re: RESPA Changes-Vent...
Truffle Royale
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Somewhere in the middle
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But they could ease up a bit, cheese whiz, at least only two changes a year.
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#1277700 - 10/30/09 05:43 PM
Re: RESPA Changes-Vent...
Truffle Royale
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But I'm tired!  And my eyes hurt!
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#1277702 - 10/30/09 05:44 PM
Re: RESPA Changes-Vent...
Tigg
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Somewhere in the middle
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Feels like a long tailed cat in a room full of rocking chairs.
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#1277703 - 10/30/09 05:44 PM
Re: RESPA Changes-Vent...
Truffle Royale
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security now, but if something is missed, security turns into unemployed...
I just don't see how lumping the fees together helps the borrower...
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#1277704 - 10/30/09 05:45 PM
Re: RESPA Changes-Vent...
TB 12
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Thats it, DD. Several major changes in a year...just get through one and the next hits you...
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#1277707 - 10/30/09 05:46 PM
Re: RESPA Changes-Vent...
TB 12
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SW GA
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Just give them a little while. They'll change the reg again so that the fees are detailed. That's their job security.
Look! I'm at 2,222 posts!
Last edited by Oldie But Goldie; 10/30/09 05:47 PM.
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#1277708 - 10/30/09 05:46 PM
Re: RESPA Changes-Vent...
TB 12
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Yeah, and how 'bout cuttin them down from 1000 pages to a nice 500 or so.......
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#1277717 - 10/30/09 05:55 PM
Re: RESPA Changes-Vent...
DD Regs
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But they could ease up a bit, cheese whiz, at least only two changes a year. And next year will be no better once they finalize SAFE, and the Truth in Lenging gut job revisions, and what ever else they decide to "tweak".
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