Compliance Blog

Last week, HUD announced that it is delaying implementation of the "required use" portion of it recently finalized RESPA regulation.  It already had pushed back the effective date until April 16.  Now it is due to take affect July 16.  Access the information here.  In HUD's words:

Last year, HUD proposed changing this required use definition to help consumers shop more effectively for homes, mortgages and settlement services that are best for them, free from the influence of disingenuous discounts and incentives that steer consumers to the use of affiliated businesses. HUD's final rule revised the definition of "required use" to enhance consumer protections against certain practices conducted by affiliated business arrangements.

HUD believes that some businesses have used the affiliated business arrangement exception under Section 8 of RESPA to steer consumers to affiliated settlement service providers that may not provide the best mortgage products or settlement services for those consumers. A number of such complaints concern builders, who are in a position to refer settlement service business to their affiliated mortgage and title companies.

I'll let you know when if they delay it again.

On Sunday, I found out that two of my alma maters will face each other in the National Invitational Tournament.  Penn State (undergrad) will host  George Mason (law school).  Who do I root for?  Let me think...

Penn State memories: Fall football Saturdays, interesting, diverse classes, 20,000 female coeds, pep rallies, a beautiful campus.
George Mason memories: Stress, urban campus without enough parking, studying all day on Saturdays, corporate and partnership tax law, no time for college football.

Who am I rooting for?  I have four words: We are....Penn State.  Take it to'em, boys.

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Update:  Something tells me Anthony did not catch much of the Penn State - George Mason game last night.

It was a very happy St. Patrick's Day for the Demangone household!  At 7:20 a.m. on Tuesday morning, Anthony and Mandy welcomed twin babies Katheryn "Kate" and Briggs into their household!  Both are healthy and doing well, as is Mandy. 

Kate weighed in at 6 lbs 12 ounces with Briggs close behind at 6 lbs 9 ounces. 

Congratulations to both Anthony and Mandy!!

 

Kate (left) and Briggs (right).