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HUD/OH

RIN: 2502-AI78

Publication ID: Spring 2011

Title: Real Estate Settlement Procedures Act (RESPA); Strengthening and Clarifying RESPA's "Required Use" Prohibition (FR-5352)
Abstract: This advance notice of proposed rulemaking rule will address the "required use" issue that is found in many closing transactions. On May 15, 2009, HUD withdrew the revisions to the definition of "required use" as provided in HUD's November 17, 2008, final rule amending its Real Estate Settlement Procedures Act (RESPA) regulations after deferring the effective date of the definition of required use on January 15, 2009, and soliciting public comment on March 10, 2009. HUD took into consideration the public comments received and decided to withdraw the revised "required use" definition, leaving in place the definition of "required use" before the revisions made by the November 17, 2008, final rule. In withdrawing the definition, HUD reiterated its commitment to the RESPA reform goals of the November 17, 2008, final rule and to initiate a new rulemaking process on required use.
Agency: Department of Housing and Urban Development(HUD)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Long-Term Actions
Major: No	Unfunded Mandates: No
CFR Citation: 24 CFR 3500
Legal Authority: 12 USC 2601 et seq 42 USC 3535(d)

Legal Deadline: None

Timetable:

Action	Date	FR Cite
ANPRM	06/03/2010	75 FR 31334
ANPRM Comment Period End	09/01/2010
Next Action Undetermined	To Be Determined

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Bart Shapiro Director, Office of RESPA and Interstate Land Sales Department of Housing and Urban Development Office of Housing 451 7th Street SW., Washington, DC 20410-0001 Phone:202 708-0502