After a year of mulling over industry complaints and tinkering with its regulatory options, HUD has finally put the finishing touches its long@ awaited Respa mortgage servicing escrow accounting rule and mortgage bankers are finding the final version much more palatable.

The rule, which win come under Section 6 of the Real Estate Settlement procedures Act and is likely to be published in the Federal Register Oct. 1, is set to take effect 180 days after publication, making it effective in April 1995 provided it meets that publication time frame.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.