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new respa rule: New Good Faith Estimate and HUD-1 Forms - 11/13/08 12:49 PM
Newsflash!  The United States Department of Housing and Urban Development has released its new rules concerning the Good Faith Estimate - 341 PAGES!  Good Gravy!
I have begun to read the rule.  It is part of what I do for a living.  Do we really need 341 pages of self serving justification to explain why we are changing the GFE from one page to three pages, correlating lines on the HUD-1 to lines on the GFE, and mandating another page to the HUD-1 explaining terms of the mortgage financing?
All this to promote competition and to protect consumers.  In case some … (1 comments)

 
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Brian M. Dubuc

Marietta, GA

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Dubuc and Associates, LLC

Address: 3225 Shallowford Road, N.E., Suite 1200, Marietta, GA, 30062

Office Phone: (770) 509-6565

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