Howard Lax has written an article on the RESPA proposal that is on the Greatland website. I would like to say congratulations to Howard for a fine (and entertaining) article.

http://www.greatland.com/newsletters/ComplianceMatters/NewsLetterDetail.asp?NewsID=51&NewsletterID=233

Thanks for the link. Hopefully, Howard won't mind if we use some of the article in our comment letters?

I wouldn't think he'd mind, especially since he posted the text of the article here on this forum himself.

Well, it was not the whole article that I posted here - I posted the initial draft on this forum. I want to thank the members of the forum for providing food for thought that allowed me to round out the article somewhat. Please feel free to use parts of the article in your comment letters. I also suggest that you look at the economic analysis published by HUD at http://www.hud.gov/offices/ogc/ea-chapters.pdf and find ways to poke holes in HUD's assumption that their rule is going to save consumers a lot of money (it will not) and not cost the industry that much (it will).

As often made available on this web site, a very practical solution, assistance, and guidance. Thanks, Howard, for your help.

Thank you Howard, for a well thought out article on the new RESPA proposal. You mentionned numerous things that I haven't even thought about. Thanks for your work and contributions.

BankersOnline should establish a Second City forum for comments on proposed federal regulations.

Good idea, Howard. We've done that with HMDA and will have a comment site for this RESPA proposal. We plan to set it up in conjunction with the Sept 25th seminar which will include discussion of comment ideas and concerns. This is really an issue where bankers MUST speak out and be heard!