Department of Housing and Urban Development: Real Estate Settlement Procedures Act (RESPA): Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
GAO-09-209R: Dec 1, 2008
- Full Report:
GAO reviewed the Department of Housing and Urban Development's (HUD) new rule on the Real Estate Settlement Procedures Act. GAO found that (1) the rule is intended to protect consumers from unnecessarily high settlement costs by making a variety of changes to the Good Faith Estimate form; and (2) HUD complied with the applicable requirements in promulgating the rule.