Department of Housing and Urban Development June 29, 2005 – Federal Register Recent Federal Regulation Documents
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Real Estate Settlement Procedures Act (RESPA); Simplifying and Improving the Process of Obtaining Mortgages To Reduce Settlement Costs to Consumers: Notice of Meetings-RESPA Reform Roundtables
This notice advises the public of three informal meetings (roundtables) that HUD intends to hold during the months of July and August 2005, at HUD Headquarters with representatives of the industry (which includes lenders, mortgage brokers, real estate brokers and agents, title companies, appraisers, and other settlement service providers), consumers, and other interested parties. During this same period, HUD will co-sponsor with the Small Business Administration three small business roundtables in the cities of Los Angeles, Chicago, and Fort Worth. The purpose of the roundtables is to listen to individual views, allow participants to exchange views, and gather information on possible changes to HUD's RESPA regulations. HUD has announced its commitment to propose changes that will update, simplify, and improve the disclosure requirements for mortgage settlement costs and help control these costs for consumers.
Privacy Act of 1974; Notice of a Computer Matching Program
In accordance with the Privacy Act of 1974 (5 U.S.C. 552a), as amended by the Computer Matching and Privacy Protection Act of 1988 (Pub. L. 100-503), and the Office of Management and Budget (OMB) Guidelines on the Conduct of Matching Programs (54 FR 25818 (June 19, 1989); and OMB Bulletin 89-22, ``Instructions on Reporting Computer Matching Programs to the Office of Management and Budget (OMB), Congress and the Public,'' HUD is issuing a public notice of its intent to conduct a recurring computer matching program with the Department of Education to utilize a computer information system of HUD, the Credit Alert Interactive Voice Response System (CAIVRS), with the Department of Education's debtor files. This match will allow prescreening of applicants for loans issued by or guaranteed by the federal government to ascertain if the applicant is delinquent in paying a debt owed to or insured by the federal government for HUD or the Department of Education for direct or guaranteed loans. Before granting a loan, the lending agency and/or the authorized lending institution will be able to interrogate the CAIVRS debtor file which contains delinquent debt information from the Departments of Agriculture, Education, Veteran Affairs, the Small Business Administration and judgment lien data from the Department of Justice, and verify that the applicant is not in default on a Federal judgment or delinquent on direct or guaranteed loans of participating Federal agencies. This match will allow prescreening of applicants for loans issued by or guaranteed by the federal government to ascertain if the applicant is delinquent in paying a debt owed to or insured by the federal government. Authorized users do a prescreening of CAIVRS to determine a loan applicant's credit status with the federal government. As a result of the information produced by this match, the authorized users may not deny, terminate, or make a final decision on any loan assistance to an applicant or take other adverse action against such applicant, until an officer or employee of such agency has independently verified such information.
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