April 24, 2008
ALTA Action Alert on RESPA Reform Immediate Response Needed
Please Contact Your Representative Now and Ask Them to
Sign the Dear Colleague Letter on RESPA Reform
The US Department of Housing and Urban Development (HUD) released their long awaited RESPA reform proposal on March 13, 2008. It is a complicated and lengthy rule that could have serious adverse affects on the title and escrow industry. It is over 96 Federal Register pages with over 500 pages of economic analysis. This rule took six years for HUD to develop and they have only allowed 60 days for industry, consumer and Congressional comments.
Rep. Ruben Hinojosa (D-TX) and Rep. Judy Biggert (R-IL) have authored a "Dear Colleague" letter requesting HUD to extend the comment period on the proposed RESPA rule, which closes on May 13, for an additional 60 days. The more Members of the US House of Representatives who sign the letter, the better the chance of getting the comment period extended. Given the extensive changes and sheer volume of the proposed rule an extension would be beneficial, so all interested parties have adequate time to review and submit comments.
ALTA asks you to contact your representative now and ask them to sign the Hinojosa/Biggert "Dear Colleague" letter.
What to Do:
Click here to contact your Member of Congress by inserting your zip code.
Use the provided message or draft your own message to ask them to sign the Hinojosa/Biggert RESPA Reform "Dear Colleague" letter.
For more information on ALTA's position on RESPA reform, to read the proposed rule or submit comments to HUD click here.
The process will take only a few minutes, but it is crucial that your representative hear from you, so please send your message on RESPA reform now.
If you have any questions or need assistance. Please contact Charlene Nieman, Grasssroots & PAC Manager at 1-800-787-2582 ext. 233 or email@example.com.