Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

BIG CHANGES Are Here...New Lending Rules Start Oct. 3rd!
GET READY!  Saturday, October 3rd is the date set by the Consumer Finance Protection Bureau (CFPB) to institute some of the biggest changes in decades to the real estate lending and closing process. Originally set for August 1st, the CFPB moved the start date to allow lenders and title companies more time to prepare for the changes.
Gone will be three forms that have confused consumers for years – the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-In-Lending disclosure form.  They will be replaced by two different forms – a Loan Estimate and a Closing Disclosure.
"KNOW BEFORE YOU OWE"
The forms and rules were created by the Consumer Financial Protection Bureau (CFPB), the government agency charged with overseeing the mortgage lending process.  The CFPB has marketed the changes as the “Know Before You Owe” rules.   
This is long overdue, as the old forms were out-dated and often confusing. The two new forms will help consolidate the information and make it easier for consumers to compare their final costs to the original estimates.  If any changes occurred, borrowers will be able to see the differences right away.  
Both new forms can still see some modifications as the CFPB reviews how they are working in real ... more

__________________________________________________
Are you on The Rain? Grow Your Network!