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and Urban Development Act of 1968 (12 U.S.C. 1701x(a)(4)), a recommendation that the consumer use such services, and notification that a list of certified providers of homeownership counseling in the area, and their contact information, is avail- able. ‘‘(9) An explanation of the nature and purpose of escrow accounts when used in connection with loans secured by resi- dential real estate and the requirements under section 10 of this Act regarding such accounts. ‘‘(10) An explanation of the choices available to buyers of residential real estate in selecting persons to provide nec- essary services incidental to a real estate settlement. ‘‘(11) An explanation of a consumer’s responsibilities, liabil- ities, and obligations in a mortgage transaction. ‘‘(12) An explanation of the nature and purpose of real estate appraisals, including the difference between an appraisal and a home inspection. ‘‘(13) Notice that the Office of Housing of the Department of Housing and Urban Development has made publicly available a brochure regarding loan fraud and a World Wide Web address and toll-free telephone number for obtaining the brochure. The booklet prepared pursuant to this section shall take into consid- eration differences in real estate settlement procedures that may exist among the several States and territories of the United States and among separate political subdivisions within the same State and territory.’’; (3) in subsection (c), by inserting at the end the following new sentence: ‘‘Each lender shall also include with the booklet a reasonably complete or updated list of homeownership coun- selors who are certified pursuant to section 106(e) of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701x(e)) and located in the area of the lender.’’; and (4) in subsection (d), by inserting after the period at the end of the first sentence the following: ‘‘The lender shall provide the booklet in the version that is most appropriate for the person receiving it.’’.

12 USC 1701x–1. SEC. 1451. HOME INSPECTION COUNSELING. (a) PUBLIC OUTREACH.— (1) IN GENERAL.—The Secretary of Housing and Urban Development (in this section referred to as the ‘‘Secretary’’) shall take such actions as may be necessary to inform potential homebuyers of the availability and importance of obtaining an independent home inspection. Such actions shall include— (A) publication of the HUD/FHA form HUD 92564– CN entitled ‘‘For Your Protection: Get a Home Inspection’’, in both English and Spanish languages; (B) publication of the HUD/FHA booklet entitled ‘‘For Your Protection: Get a Home Inspection’’, in both English and Spanish languages; (C) development and publication of a HUD booklet entitled ‘‘For Your Protection—Get a Home Inspection’’ that does not reference FHA-insured homes, in both English and Spanish languages; and

LAWS (D) publication of the HUD document entitled ‘‘Ten Important Questions To Ask Your Home Inspector’’, in both English and Spanish languages.PUBLIC with on anorris VerDate Nov 24 2008 04:10 Sep 04, 2010 Jkt 089139 PO 00203 Frm 00802 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203