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Informational Memorandum
Subject:Amendments to RESPA, Regulation X
Date of Memorandum:03/18/1998
Expiration Date:
Office:OE
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:HUD Final Rule Amending Regulation X (24 CFR Part 3500)

INFORMATIONAL MEMORANDUM




March 18, 1998


To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director /s/
Office of Examination

Subject: Amendments to the Real Estate Settlement Procedures Act of 1974 (RESPA), Regulation X


On January 21, 1998, the Department of Housing and Urban Development (HUD) published a final rule that amended Regulation X (24 CFR 3500). The final rule addresses problems that were raised in applying escrow accounting requirements under Regulation X. Attached is a copy of the final rule as published in the Federal Register, which became effective February 20, 1998. If you have any questions concerning the rule, please contact HUD at (202) 708-4560.

If you have questions regarding this Informational Memorandum, please contact Thomas J. Holland, Director, Special Examination and Supervision Division, Office of Examination, at (703) 883-4483, or on the Internet at e-mail address Hollandt@FCA.gov.

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