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HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US. As usual, the proposals were open for comment, and many thousands of them were received. Mine was among them, and is shown ... more... What Is the Real Cost of Mortgage Insurance? October 1, 1998 "I have been advised not to borrow more than 80% of the value of my property so that I won?t have to purchase mortgage insurance. The insurance premiums I have been shown, however, only amount to about ? of 1% ... more... |
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mortgage company real estate property creditors insurance loan related definitions |
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RESPA
Real Estate Settlement Procedure Act (RESPA) A federal law passed in 1974 that requires lenders to provide home mortgage borrowers in advance with information of known or estimated settlement costs. RESPA also limits the amount lenders may require to be held in escrow for ... more... Title Insurance Title Insurance A policy, issued by a title insurance company, which insures a home buyer against errors in the title search. The cost of the policy is usually a function of the value of the property, and is often borne by the purchaser and/or seller. Policies are also available ... more... |
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