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COLDWELL BANKER PRAISES ADMINISTRATION ACTION AS VICTORY FOR CONSUMERS

 COLDWELL BANKER PRAISES ADMINISTRATION ACTION
 AS VICTORY FOR CONSUMERS
 MISSION VIEJO, Calif., Oct. 30 /PRNewswire/ -- Coldwell Banker Residential Group today hailed the decision of Secretary of Housing and Urban Development (HUD) Jack Kemp to publish final regulations under the Real Estate Settlement and Procedures Act next week.
 Chandler Barton, chairman and chief executive officer of Coldwell Banker Residential Group said that publication of the final rules ends nine years of uncertainty that have stifled competition and innovation. "We strongly commend the administration and Secretary Kemp for encouraging economic growth and innovation in real estate services by providing this guidance to companies that want to serve customers better without running the risk of being in violation of federal law. By announcing publication of a final regulation, the Administration and the Secretary have given diversified companies and the entire real estate industry a comprehensive regulatory framework that will help us offer consumers more, and more competitive services," he said.
 According to the HUD release announcing the Secretary's action, the new regulations enhance the development of new diversified real estate services and provide clear guidance with respect to business arrangements and fees.
 In making the announcement of the new regulation, Secretary Kemp said, "By creating more competition in the market place, it will lower costs to home buyers when they make the most important purchase of their lives, and it ensures that consumers are fully informed of all the fees involved in a real estate settlement."
 Coldwell Banker has more than 2,000 residential real estate offices and more than 42,000 sales associates in North America.
 -0- 10/30/92
 /CONTACT: Carol Beekman of Coldwell Banker Residential Group, 800-733-6629, or 714-367-2446/ CO: Coldwell Banker Residential Group ST: California IN: FIN SU:


BP -- LA022 -- 7199 10/30/92 14:34 EST
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Publication:PR Newswire
Date:Oct 30, 1992
Words:298
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