HUD rule on closings places agency up to criticism - 2004-01-12
The Department of Housing and Urban Development's intends to simplify real estate closings moved a step closer to reality in December when the agency gave its final rule changing mortgage settlement regulations to the White House Office of Management and Budget for review.

President Bush says the changes in Real Estate Settlement Procedures Act regulations "will make it easier for buyers to shop around and to compare prices on closing costs to so they can get the best deal and the best service possible."
Read the full story at Washington Business Journal

Interest-only loans jump - 2004-01-12
The buzzing activity of home building and buying in Northeast Florida over the past year has given rise to a new type of home loan that lets borrowers to pay only on their mortgage's interest for the first 10 years.

The mechanics of these interest-only loans vary from bank to bank, but their popularity is soaring, and lenders in Jacksonville are planning to roll out more versions of the suddenly popular products in the year ahead
Read the full story at Business Journal of Jacksonville