The Mortgage Bankers Association and the Consumer Mortgage Coalition question whether consumers would benefit from proposed Real Estate Settlement Procedures Act reforms by the U.S. Department of Housing and Urban Development because of implementation costs, a potential failure to obtain volume discounts and an information overload that will discourage consumers from reading all the material. The Real Estate Services Providers Council criticizes what they see as an emphasis on price over service and suggests the proposal would ban legitimate incentives offered by a company's one-stop shopping services that benefit consumers. The National Association of Mortgage Brokers complains that the proposal focuses only on yield-spread premiums while ignoring other types of compensation, and thus "obfuscates and confuses" originator compensation.
More... 
