Condominium Consumer Protection Act of 1975 Hearings Before the Committee On B
Condominium Consumer Protection Act of 1975 Hearings Before the Committee On B
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354 We appreciate this opportunity to appear today and present our comments on S. 2273. While we share the Committee's concerns about abuses which may have occurred in some condominium transactions, we are disturbed about the route that S. 2273 would take to deal with these problems. This bill would add one more Federal regulatory program to the plethora of programs that already impact on the small businessman home builder. Even though the Federal regulations would be somewhat self- innplementi...ng in that there would be no provision for prior review and approval by HUD, we fear that we nriay well wind up with the same burdensome experiences that have plagued the implementation of the Real Estate Settlement Procedures Act. As you know, that Act provided for HUD to establish certain guidelines and criteria with respect to the provision of information in connection with real estate settlements but did not otherwise provide for IIUD intervention in individual real estate settlements. Nevertheless, the problems tliat arose in RESPA's implementation were so many that this Committee last week, on October 2, unanimously approved a bill to suspend the operation of its principal sections for a one -year period.
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You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
354 We appreciate this opportunity to appear today and present our comments on S. 2273. While we share the Committee's concerns about abuses which may have occurred in some condominium transactions, we are disturbed about the route that S. 2273 would take to deal with these problems. This bill would add one more Federal regulatory program to the plethora of programs that already impact on the small businessman home builder. Even though the Federal regulations would be somewhat self- innplementi...ng in that there would be no provision for prior review and approval by HUD, we fear that we nriay well wind up with the same burdensome experiences that have plagued the implementation of the Real Estate Settlement Procedures Act. As you know, that Act provided for HUD to establish certain guidelines and criteria with respect to the provision of information in connection with real estate settlements but did not otherwise provide for IIUD intervention in individual real estate settlements. Nevertheless, the problems tliat arose in RESPA's implementation were so many that this Committee last week, on October 2, unanimously approved a bill to suspend the operation of its principal sections for a one -year period.
What to read after Condominium Consumer Protection Act of 1975 Hearings Before the Committee On B?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
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