Dec. 12, 2005 - NAR LAUNCHES RESPA COMPLIANCE TOOLS

NAR has launched four new training tools to help real estate professionals understand and comply with the Real Estate Settlement Procedures Act (RESPA), which was enacted in 1974 to provide consumers with advance disclosure of closing costs and prohibit kickbacks and excessive fees in the home buying process. Over the last 18 months, HUD has stepped up its enforcement of the law. The new training tools, which are being widely distributed to large brokers and state associations, use specific examples to explain what's allowed and what's not allowed under RESPA. For more information about the new tools and how to order them, go to: http://www.realtor.org/RESPA