Amendments to Regulation X, the Real Estate Settlement Procedures Act

OGC-96-22: Published: Jun 28, 1996. Publicly Released: Jun 28, 1996.

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Pursuant to a legislative requirement, GAO reviewed the Department of Housing and Urban Development's (HUD) new rule on exemptions for payments by employers to employees and borrowers to computer loan origination systems. GAO found that: (1) the rule would create three limited exemptions for permissible payments by employers to bona fide employees, and revise certain controlled business disclosure requirements; and (2) HUD complied with applicable requirements in promulgating the rule.

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