This story appeared in Bank Digest.
Banks supervised by the Federal Deposit Insurance Corp. have been notified that beginning Jan. 1, 2010, agency examiners will begin examining for compliance with the amended provisions of Regulation X, which implements the Real Estate Settlement Procedures Act. The Department of Housing and Urban Development amended Regulation X regarding the Good Faith Estimate (GFE) and HUD-1 Uniform Settlement Statement (HUD-1). The HUD amendments created a new version of the GFE, which is subject to tolerances for accuracy; and expanded the HUD-1, which promotes comparison of loan terms and settlement charges between the HUD-1 and the GFE. The FDIC also issued supplemental information regarding the final RESPA rule.



