The Real Estate Settlement Procedures Act (“RESPA”) is designed to assure fair lending practices by helping customers become better shoppers for settlement services and eliminate kickbacks and referral fees that unnecessarily increase the cost of settlement services. If you are aware of possible RESPA violations in your area, please let HUD know about them. You may use this form to register a complaint.
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Fair Credit – Credit Score Disclosure Requirements
The Fair and Accurate Credit Transactions Act of 2003 (FACTA) amended the Fair Credit Reporting Act to require certain notices to consumers and customers, prevent identity theft, improve resolution of consumer disputes, improve the accuracy of consumer records, make improvements in the use of, and consumer access to, credit information, and for other purposes. Section 212 of the FACTA amended, in pertinent part, Section 609 of the Fair Credit Reporting Act by adding as Section 609(g) a credit score disclosure requirement for lenders. The deadline for mandatory compliance with this credit score disclosure requirement is December 1, 2004.