REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1074.

SEC. 908. REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1074. (a) Applicability to Mortgage Origination.—Section 3(3) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2602(3)) is amended by inserting after “broker,” the following: “the origination of a federally related mortgage loan (including, but not limited to, the taking of loan applications, loan processing, and the underwriting and funding of loans),”. 106 STAT. 3874 (b) Applicability to Second Mortgages and Refinancings.—Section 3(1)(A) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2602(1)(A)) is amended— (1) by inserting “or subordinate” after “first”; and (2) by inserting before the semicolon the following: “, including any such secured loan, the proceeds of which are used to prepay or pay off an existing loan secured by the same property.” (c) Regulations.—The Secretary of Housing and Urban Development shall issue regulations to implement the amendments made by this section not later than the expiration of the 180-day period beginning on the date of the enactment of this Act. The regulations shall be issued after notice and opportunity for public comment pursuant to the provisions of section 553 of title 5, United States Code (notwithstanding subsections (a)(2), (b)(B), and (d)(3) of such section). (d) Effective Date.—This section shall take effect on the date of enactment of this Act and shall not apply retroactively.