94-20476. Amendments to Regulation X, the Real Estate Settlement Procedures Act Regulation (1994 Revisions): Amendment and Notice of Electronic Conference

[Federal Register Volume 59, Number 160 (Friday, August 19, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20476]


[[Page Unknown]]

[Federal Register: August 19, 1994]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner

24 CFR Part 3500

[Docket No. R-94-1725; FR-3638-P-02]
RIN 2502-AG26

 

Amendments to Regulation X, the Real Estate Settlement Procedures 
Act Regulation (1994 Revisions): Amendment and Notice of Electronic 
Conference

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

ACTION: Amendment to proposed rule and notice of electronic conference.

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SUMMARY: The Department is amending its proposed rule published on July 
21, 1994 (59 FR 37360), to change the date of the Technology 
Demonstration, extend the deadline for submitting comments on the 
proposed rule, and announce the availability of an electronic 
conference on the computer loan origination (CLO) aspects of the rule.

DATES: Comment due date: The new deadline for comments on the proposed 
rule is Friday, September 30, 1994. The new date for the Technology 
Demonstration is September 20, 1994. The electronic conference will run 
from August 19, 1994, to September 30, 1994.

ADDRESSES: Owners and operators of computerized loan origination 
systems (CLOs) are also invited to participate in a Technology 
Demonstration of Computerized Loan Origination Systems, to be sponsored 
by the Department and held at HUD Headquarters, 451 Seventh Street, 
SW., Washington, DC, on Tuesday, September 20, 1994, beginning at 9:30 
a.m. (EST), as discussed more fully in the preamble of the proposed 
rule under supplementary information.
    Interested persons are invited to submit written comments regarding 
the rule to the Rules Docket Clerk, Office of General Counsel, room 
10276, Department of Housing and Urban Development, 451 Seventh Street, 
SW., Washington, DC 20410-0500. Communications should refer to the 
above docket number and title. Facsimile (FAX) comments are not 
acceptable. A copy of each communication submitted will be available 
for public inspection and copying between 7:30 a.m. and 5:30 p.m. 
weekdays at the above address.

FOR FURTHER INFORMATION CONTACT:
For technical questions about CLOnet: Fred Dow, Director, Office 
Automation Staff, Office of Housing, room 9134, telephone (202) 708-
4585; the TDD number for persons who are hearing- or speech-impaired is 
[phone]. For general questions about the proposed rule, William 
Reid, Senior Economist, Office of Policy Development and Research, room 
8212, telephone [phone]; the TDD number is [phone]. For 
legal questions, Grant E. Mitchell, Senior Attorney for RESPA, room 
10252, telephone [phone]; or Kenneth A. Markison, Assistant 
General Counsel for GSE/RESPA, room 10252, telephone [phone]. 
The address for all the above-listed persons is: Department of Housing 
and Urban Development, 451 Seventh Street, SW., Washington, DC 20410. 
(The telephone numbers are not toll-free.)

SUPPLEMENTARY INFORMATION: The Department is announcing a revised date 
for the Technology Demonstration described in its proposed rule (59 FR 
37360, July 21, 1994). The Department is also extending the deadline 
for submission of comments on the proposed rule to Friday, September 
30, 1994, to allow commenters additional time to incorporate into their 
comments any views they have developed as a result of the Technology 
Demonstration.
    In addition, the Department is announcing the availability of an 
electronic conference as another tool for interested persons to 
exchange information and ideas on the computer loan origination (CLO) 
aspects of the proposed rule. The electronic conference will be for 
discussion only; comments must still be in writing and submitted as 
described above under the heading addresses in order to be considered 
by the Department during the development of the final rule.
    This on-line conference will run 24 hours per day from August 19, 
1994, to September 30, 1994, and will provide industry and individual 
users who access the conference an opportunity to discuss and debate 
with one another the CLO aspects of the proposed rule through a 
computer network. The conference is called CLOnet and can be accessed 
by calling Metasystems Design Group, Inc. (MDG), in Arlington, 
Virginia, telephone [phone]. There is a monthly charge of $20, 
after which connect time is unlimited and free (other than long-
distance charges). A personal computer (PC), modem, and communications 
software are required to access the conference.
    The Department is using this opportunity as a trial for 
supplementing its existing FHAnet with the subject-specific CLOnet. 
Both conferences can provide an excellent interactive method for the 
public to ``meet'' on and discuss relevant matters. Because the purpose 
of the current CLOnet is to provide an electronic medium for discussion 
of the effect of the proposed rule on CLOs and consumers, any HUD 
employee who chooses to participate in the discussion may do so only in 
his or her individual capacity and not in any official capacity as a 
representative of the Department.

    Authority: 12 U.S.C. 2601 et seq.; 42 U.S.C. 3535(d).

    Dated: August 16, 1994.
Nicolas P. Retsinas,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 94-20476 Filed 8-16-94; 4:54 pm]
BILLING CODE 4210-01-M