General World News

RESPA Section 8 reforms and modernizations are sorely needed, MBA says

The Mortgage Bankers Association (MBA) on Thursday released a new white paper, which argues that Section 8 of the Real Estate Settlement Procedures Act (RESPA) is in need of reform and modernization to better reflect “today’s highly-regulated mortgage market.”

Dec. 22, 2024, will mark the 50th anniversary of RESPA being signed into law by President Gerald Ford. It was originally overseen by the U.S. Department of Housing and Urban Development (HUD), but in 2011, the oversight, enforcement and rulemaking responsibility was transferred to the details ⇒

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