HUD and the Board Propose Rulemaking to Simplify Real Estate Disclosures

Summary

The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Board (the Board) are seeking public comments on proposed changes to real estate disclosures under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). The proposed rule, expected to be published by March 1997, aims to improve consumer protection while reducing regulatory burdens.