OCC Bulletin 1999-14| March 29, 1999

Real Estate Settlement Procedures Act: Statement of Policy: Lender Payments to Mortgage Brokers

To

Chief Executive Officers and Compliance Officers of All National Banks, Department and Division Heads, and All Examining Personnel

The guidance attached to this bulletin continues to apply to federal savings associations.

On March 1, 1999, the Department of Housing and Urban Development (HUD) published in the Federal Register a statement of policy regarding lender payments to mortgage brokers under the Real Estate Settlement Procedures Act. The policy statement provides HUD's views on the legality of lender payments to mortgage brokers. The policy is effective March 1, 1999.

A copy of the statement of policy is attached. Questions may be directed to your supervisory office or the Community and Consumer Policy Division at (202) 874-4428.

Nanette G. Goulet
Acting Deputy Comptroller
Community and Consumer Policy

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