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Inactive Financial Institution Letters


Real Estate Settlement Procedures Act

FIL-61-97
June 20, 1997

 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Revisions to HUD's Special Information Booklet for Applicants of Residential Real Estate Loans

The attached June 11, 1997, Federal Register notice contains revisions to a special information booklet last issued by the Department of Housing and Urban Development (HUD) on April 23, 1987. Under the Real Estate Settlement Procedures Act of 1974 (RESPA), lenders are required to provide the special information booklet to applicants for loans to purchase residential real estate within three business days of receiving the application.

HUD will make a copy of the revised booklet, Buying Your Home, Settlement Costs and Helpful Information, available to firms planning to publish the booklet for distribution to lenders. Firms interested in securing a copy should send their requests to:

Director, Office of Consumer and Regulatory Affairs Attention: RESPA/Special Information Booklet Room 9146 U.S. Department of Housing and Urban Development 451 Seventh Street, SW, Washington, D.C. 20410

Lenders may continue to use previous editions of the booklet until supplies are exhausted or until September 9, 1997, whichever is earlier.

FDIC staff who may be contacted for further information are:

  • Ken Baebel, Sr. Review Examiner, Division of Compliance and Consumer Affairs, (202) 942-3086 (e-mail: JBaebel@FDIC.gov), or

  • Gladys Cruz Gallagher, Counsel, Legal Division, (202) 898-3833 (e-mail: GGallagher@FDIC.gov).


Carmen J. Sullivan
Director
FDIC Division of Compliance and
Consumer Affairs

Attachment: Federal Register, Vol. 62, No. 112, June 11, 1997, pp. 31981-32011.

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003). FDIC FILs are available on the FDIC website at: News, Events & FOIA

Last Updated 07/16/1999 communications@fdic.gov