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Amendments To RESPA

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Amendments To RESPA
Between 1990 and 1996, thee were several amendments to RESPA, including the requirement of detailed disclosures concerning the transfer, sale, or assignment of mortgage servicing and mortgage escrow accounts at closing and annually thereafter, itemizing the charges to be paid by the borrower and what is paid out of the account by the servicer. Some notable changes include to cover subordinate lien loans; and, to clarify certain definitions including "controlled business arrangement," which was changed to "affiliated business
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