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lending primer: Buyers Beware, RESPA Cannot Protect You - 12/18/09 02:07 AM
This post is inspired by Tim Bradford's blog on the new revised GFE that appears in January.
The revised GFE is another failed attempt to protect consumers,  The problem is, consumers cannot be protected with forms because those who wish to deceive will always find a way.  Consumer education is the only real consumer protection.
The new GFE requires lenders to guarantee their fees but it allows lenders to estimate fees for Title, Settlement, Prepaid Interest and Impounds.  Once again, it appears the rules are made by people with absolutely no understanding of real world lending.
Based on my experience, consumers are … (29 comments)

 
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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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