NeWS to KnOW

I wanted to let you know that HUD issued a press release today which indicates that they are finally understanding how the new rules may impact our business in January. HUD has announced that for the first four months in 2010, they will exercise restraint in the enforcement of the new rules as long as the lender is making a “good faith effort” to comply. They are NOT delaying the implementation of the new forms, but they are going to be “sensitive to the concerns of the industry as it integrates these new rules into their day-to-day business practices.”