Why Regulatory Change Happens - Part 1

Why is RESPA Reform likely here to stay and what can you do about it?  Over the next few days, we will take a look at what’s behind the drive for reforming the real estate settlement process.  Next we will explore ways that we can have a meaningful dialogue with lawmakers to help craft detailed and practical changes.

Regulatory Changes generally come about from one or more of these situations: Scandal, Political Realities, and/or Market Developments & Changes.  Given that, you can see how RESPA Reform touches all 3 change drivers and therefore will likely remain viable.  In order to know how to best make our voices heard, first let’s understand these 3 situations and the motivations of regulators to address them.  Starting tomorrow we will look at each of these 3 change drivers a little more in depth.