Special offer

How we calculate the GFE

By
Mortgage and Lending with HomeTown Lenders

Several people have asked how we calculate the figures in the new GFE. The instructor in the training class I took explained it this way.

The GFE Explained

This should clear it up pretty easily. Any questions?

 

Comments (16)

Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Class dismissed. (chalk in tray sound)

Jul 12, 2012 05:32 AM
Anonymous
Alan Bercovitz

And just as soon as we understand it, the CFPB is getting ready to change it all again.

Jul 12, 2012 05:54 AM
#2
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

I think he forgot to carry the one.

Jul 12, 2012 06:41 AM
Wayne Jackson
Lakeshore Realty 208-714-4109 - Hayden, ID
North Idaho Realtor, Serving Coeur dnullAlene and Hayden Lake

Hal, Thats great. I understand it perfectly now. Crystal clear.

Jul 12, 2012 11:10 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Thanks for this very important clarification. I will be sure to share it with all of my clients.,. (LOL, sad but so true)!

Jul 12, 2012 12:14 PM
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

I have always hated blackboards just thinking of my sisters finger nails OMG you get the picture.

Jul 12, 2012 01:18 PM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Hal:

Yeah, sure, I understand it now.  I wish GFE wouldn't change.  Just when I finally understand it it is changed.

Jul 12, 2012 02:09 PM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Sometimes that's what it feels like. Only we would probably find this humorous.

Jul 12, 2012 02:39 PM
Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist
Lol!
Jul 12, 2012 02:49 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Hal, LOL! Why can't they leave things alone? Haven't they heard, if it's not broke, don't fix it.

Jul 12, 2012 03:48 PM
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

That's great!  Quite frankly, that is about how tough it is to read it and explain it over the phone to a client.

Jul 12, 2012 08:09 PM
Hal Tennant
HomeTown Lenders - Murfreesboro, TN
Get a Zero Down Mortgage - How to buy a home with no money down

Thanks for all the comments. It just shows that it helps to have a sense of humor in this industry. To paraphrase Gene Watson's song, "Should I Give Up or Should I Go Crazy"

Jul 12, 2012 10:24 PM
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

That is what happens when the government steps in to make things easier for the consumer!

Jul 12, 2012 10:55 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

it could also be labeled. . the short sale processs for lenders 

Jul 12, 2012 11:15 PM
Carey Valentine
Medallion Mortgage Company - Bountiful, UT

Now that's funny!

Jul 13, 2012 06:17 AM
Tom Jarzynka
Axia Home Loans & Real Estate Investment Firm - Seattle, WA

HA.  Agreed.

Jul 13, 2012 10:02 AM