HUD

The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. RESPA covers loans secured with a mortgage placed on a one-to-four family residential property. These include most purchase loans, assumptions, refinances, property improvement loans, and equity lines of credit. HUD's Office of RESPA and Interstate Land Sales is responsible for enforcing RESPA.

Loan servicing complaints

Section 6 provides borrowers with important consumer p...
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A Philadelphia homeowner started foreclosure proceedings on a Wells Fargo mortgage office after winning a rather strange legal judgement against the bank.

http://www.huffingtonpost.com/2011/02/17/patrick-rodgers-forecloses-on-wells-fargo_n_824765.html

According to the Philadelphia Inquirer, Rodgers discovered the Real Estate Settlement Procedures Act, which requires mortgage companies to acknowledge written requests within 20 business days or face penalties. He took Wells Fargo to court, ...

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