A bill to suspend sections 4, 6, and 7 of the Real Estate Settlement Procedures Act of 1974, and repeal subsection (c) of section 121 of the Truth in Lending Act.

Suspends, for one year, provisions of the Real Estate Settlement Procedures Act: (1) relating to development of a standard form for the statement of settlement costs in all transactions involving federally related mortgage loans; (2) requiring advance disclosure of settlement costs to prospective borrowers; and (3) requiring the disclosure of the previous selling price of existing real property.