Home > ALTA, CFPA, mortgage lenders, RESPA, title company > Congress passes amendment clarifying reach of CFPA

Congress passes amendment clarifying reach of CFPA

The American Land Title Association applauded Congress’ passage of an amendment that clarifies the oversight of the Consumer Financial Protection Agency.

“Congress recognized that title insurance is best regulated by a comprehensive, well established state regulatory system,” ALTA CEO Kurt Pfotenhauer told Reuters.

Title insurance providers are still subject to federal regulation, however, in the form of the Real Estate Settlement Procedure Act. RESPA changes go into effect Jan. 1, 2010, and HUD has no plans to delay the implementation.

Learn more

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: