[Federal Register Volume 60, Number 6 (Tuesday, January 10, 1995)]
[Rules and Regulations]
[Pages 2642-2643]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-553]




[[Page 2641]]

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Part V





Department of Housing and Urban Development





_______________________________________________________________________



Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner



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24 CFR Part 3500



Real Estate Settlement Procedures Act, Section 6 Transfer of Servicing 
of Mortgage Loans (Regulation X); Correction; Final Rule

  Federal Register / Vol. 60, No. 6 / Tuesday, January 10, 1995 / Rules 
and Regulations   
[[Page 2642]]

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner

24 CFR Part 3500

[Docket No. R-95-1538; FR-2942-C-06]
RIN 2502-AG27


Real Estate Settlement Procedures Act, Section 6 Transfer of 
Servicing of Mortgage Loans (Regulation X); Correction

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner (HUD).

ACTION: Correction to final rule.

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SUMMARY: The final rule published on December 19, 1994 (59 FR 65442), 
contains an error in Appendix MS-1 to Part 3500, the Servicing 
Disclosure Statement. As published, page 65455 did not include the 
Acknowledgment of Mortgage Loan Applicant that was referenced in the 
rule text. Therefore, this correction replaces page 65455 and includes 
the missing Acknowledgment. In addition, a correction is made to a 
cross-reference in Sec. 3500.21(e) of the rule.

DATES: This correction will take effect on the effective date of the 
final rule, June 19, 1995. However, the Department continues to 
encourage persons covered by the new rule to implement all of its 
provisions, including this correction to the Acknowledgment in the 
Servicing Disclosure Statement, earlier than the rule's effective date.

FOR FURTHER INFORMATION CONTACT: David R. Williamson, Director, RESPA 
Staff, Room 5239, Department of Housing and Urban Development, 451 7th 
Street, SW., Washington, DC 20410, telephone (202) 708-4560. The TDD 
number for hearing-impaired persons is (202) 708-4594. (These are not 
toll-free numbers.)

SUPPLEMENTARY INFORMATION: Under the Real Estate Settlement Procedures 
Act of 1974 (12 U.S.C. 2601 et seq.), the Secretary is to publish 
regulations implementing the requirements in Section 6 (12 U.S.C. 2605) 
concerning the servicing of mortgage loans. The final rule published on 
December 19, 1994, contained a wrong cross-reference and an error in 
the Servicing Disclosure Statement in one of the appendices.
    Accordingly, FR Doc. 94-30413, the final rule on Real Estate 
Settlement Procedures Act, Section 6 Transfer of Servicing of Mortgage 
Loans (Regulation X); and Real Estate Settlement Procedures Act 
(Regulation X); Escrow Accounting Procedures: Technical Correction, 
published December 19, 1994 (59 FR 65442), is corrected as follows:


Sec. 3500.21  [Corrected]

    1. On page 65450, in the third column, in the first sentence of 
Sec. 3500.21(e)(2)(i), the cross-reference to ``paragraph (f)'' is 
corrected to read ``paragraph (e)''.


Appendix MS-1 to Part 3500  [Corrected]

    2. The text on page 65455, in Appendix MS-1 to Part 3500, Servicing 
Disclosure Statement, is corrected by adding a second paragraph under 
the Instructions to Preparer, as the instructions begin on page 65454, 
and by adding the Acknowledgment of Mortgage Loan Applicant, including 
signature and date lines, to read as follows:

BILLING CODE 4210-27-P
[[Page 2643]]

[GRAPHIC][TIFF OMITTED]TR10JA95.001



BILLING CODE 4210-27-C
      
    Dated: January 3, 1995.
Camille E. Acevedo,
Assistant General Counsel for Regulations.
[FR Doc. 95-553 Filed 1-9-95; 8:45 am]
BILLING CODE 4210-27-P