• increase significantly the time it takes to conduct a closing;
• require lay persons to engage in the unauthorized practice of law by reading a "closing script" at closing;
• require settlement agents to make decisions on whether to close a loan based on factors that are outside their knowledge base; and
• harm small title agents by allowing large lenders to negotiate volume discounts with their affiliated settlement service providers.

ATG has actively lobbied for the repeal of the proposed rule by submitting testimony to the House Small Business Committee, submitting a position paper to HUD, and by meeting personally with many key members of Congress on this very important matter. Shortly after our meeting with Congresswoman Judy Biggert (R-IL), Congresswoman Biggert and Congressman Ruben Hinojosa (D-TX) drafted a letter to HUD on behalf of supportive Congressional Representatives, requesting HUD withdraw this harmful rule and immediately begin a joint rule making process with the Federal Reserve Board to provide better disclosures to homebuyers. It is critical to the success of this initiative that that they receive signatures from a majority of the members of Congress---you can help. Read the Dear Colleague Letter and Letter to HUD.

 

We urge you to write Congress now---they begin their recess August 8, 2008. Here are the steps:

1) Check our Delegations to the 110th Congress list to obtain contact information for your representatives.

 

ATG and its members have always played a vital role in the lobbying successes that have ensured that consumers in Illinois, Wisconsin, and Indiana, receive the benefit of competent legal counsel when buying or selling a home. It is time once again to "circle the wagons." Thank you for your anticipated assistance with this very important matter. For more information, please e-mail or call me at 312.752.1405.