loan estimate: Say Goodbye to Real Estate as We've Known It (End of the HUD-1 Era) - 09/08/15 06:00 AM
It's time to say goodbye to real estate closings as we've known them for the last several years.  The infamous HUD-1 Settlement statement, which is used by title companies and closing attorneys in nearly every real estate transaction, is officially being retired.  The much-maligned and often criticized Consumer Financial Protection Bureau (birthed out of the chaos from the mortgage and real estate meltdown of the Great Recession) has implemented a new rule, set to go into effect October 3rd, 2015, that will significantly change the closing process.
The new CFPB law is set to outline new rules for integrated mortgage disclosures, and … (2 comments)