Mortgage Broker Fee Disclosure Rule: Notice of Future Meetings of Negotiated Rulemaking Advisory Committee

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Assistant Secretary for Housing-Federal Housing

Commissioner

24 CFR Part 3500

[Docket No. FR-3780-N-05]

RIN 2502-AG40

Mortgage Broker Fee Disclosure Rule: Notice of Future Meetings of

Negotiated Rulemaking Advisory Committee

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing

Commissioner, HUD.

ACTION: Notice of committee meetings.

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SUMMARY: The Department has established a Negotiated Rulemaking

Advisory Committee to address certain issues concerning indirect

payments to mortgage brokers and certain other mortgage originators

(retail lenders) and volume-based compensation. The committee, which

consists of representatives with a definable stake in the outcome of a

proposed rule, convened on two prior occasions, the first time on

December 13-14, 1995, and again on January 18-19, 1996, in Washington,

DC. This notice announces the time and place for the next meeting, and

the tentative schedule for subsequent meetings of the committee. Any

changes in the schedule will be announced in the Federal Register as

far in advance of the meetings as possible. All of these meetings are

open to the public.

DATES: The third meeting of the committee will be on February 22-23,

1996. On Thursday, February 22, the meeting will start at 9:00 a.m. and

will end at 5:00 p.m., and on Friday, February 23, the meeting will

start at 9:00 a.m. and run until approximately 4:00 p.m. Additional

meeting dates are included in the text of this notice.

ADDRESSES: The next meeting of the committee will be held in Courtroom

A of the International Trade Commission Building, 500 E Street SW.,

Washington, D.C. 20436. Subsequent meetings announced in this notice

are also expected to be held at the International Trade Commission

Building.

FOR FURTHER INFORMATION CONTACT: David R. Williamson, Director, RESPA

Enforcement Unit, Department of Housing and Urban Development, Room

5241, 451 Seventh Street, S.W., Washington, D.C. 20410-0500; telephone

(202) 708-4560 (this is not a toll-free number); e-mail through

Internet at [email protected]. Persons who are hearing- or

speech-impaired may access the above phone number by calling the

Federal Information Relay Service at 1-800-877-TDDY (1-800-877-8339).

SUPPLEMENTARY INFORMATION: On December 8, 1995 (60 FR 63008), HUD

published a notice announcing the establishment and first meeting of

the Negotiated Rulemaking Advisory Committee on Mortgage Broker

Disclosures, to discuss and negotiate a proposed rule on the treatment

under RESPA, including disclosure requirements, of indirect payments to

retail lenders and of volume-based compensation to mortgage brokers.

The committee convened in Washington, D.C., on December 13-14, 1995,

and January 18-19, 1996. The committee has decided on a schedule of

subsequent meetings to continue its discussions, as follows:

January 18-19, 1996;

February 22-23, 1996;

March 18-19, 1996; and

April 8-9, 1996.

The meeting on February 22-23, 1996, will be at the International

Trade Commission Building, 500 E Street SW., Washington, D.C., and is

expected to continue substantive discussions on regulatory treatment of

fees paid to mortgage brokers. Because of the difficulties in

confirming arrangements for the meeting space and the intervening

Federal Government shutdown and inclement weather, which affected HUD

operations, the Department was unable to publish this notice earlier.

It is expected that subsequent meetings will also be held at the

International Trade Commission Building in Washington, D.C. Any changes

in the schedule will be announced in the Federal Register as far in

advance of the meetings as possible. The meetings are open to the

public, with limited seating available on a first-come, first-served

basis.

Authority: 42 U.S.C. 1437g, 3535(d).

Dated: February 14, 1996.

Nicolas P. Retsinas,

Assistant Secretary for Housing-Federal Housing Commissioner.

[FR Doc. 96-3826 Filed 2-15-96; 11:39 am]

BILLING CODE 4210-27-P