12 U.S.C. § 2601 : US Code - Section 2601: Congressional findings and purpose

      (a) The Congress finds that significant reforms in the real
    estate settlement process are needed to insure that consumers
    throughout the Nation are provided with greater and more timely
    information on the nature and costs of the settlement process and
    are protected from unnecessarily high settlement charges caused by
    certain abusive practices that have developed in some areas of the
    country. The Congress also finds that it has been over two years
    since the Secretary of Housing and Urban Development and the
    Administrator of Veterans' Affairs submitted their joint report to
    the Congress on "Mortgage Settlement Costs" and that the time has
    come for the recommendations for Federal legislative action made in
    that report to be implemented.
      (b) It is the purpose of this chapter to effect certain changes
    in the settlement process for residential real estate that will
    result - 
        (1) in more effective advance disclosure to home buyers and
      sellers of settlement costs;
        (2) in the elimination of kickbacks or referral fees that tend
      to increase unnecessarily the costs of certain settlement
        (3) in a reduction in the amounts home buyers are required to
      place in escrow accounts established to insure the payment of
      real estate taxes and insurance; and
        (4) in significant reform and modernization of local
      recordkeeping of land title information.