Remember at the beginning of the year when the RESPA and GFE changes went into effect, but HUD told everyone that they would have a four month leniency period? That comes to an end today. Of course, few, if any, investors let that trickle down to their originator clients. After all, in the event some class action lawsuit arose, investors weren’t overly confident that HUD would send in a team of attorneys to help them. Yes, the official stance is that the staff of the Mortgagee Review Board (MRB) exercised restraint in enforcing new regulatory requirements under the Real Estate Settlement Procedures Act (RESPA) in considering an action against FHA-approved lenders who have demonstrated that they are making a “good faith” effort to comply with RESPA's new requirements. It seemed pretty subjective and too subjective for the large investors.

Link to article