gfe: The New HUD-1 Settlement Statement...More confusing or did HUD finally nail this one. - 12/03/08 11:53 AM
HUD recently released a new page on the HUD-1 Settlement Statement  http://www.hud.gov/offices/hsg/sfh/res/hud1.pdf that will allow consumers to easily compare their final loan terms and closing costs with those listed on their Good Faith Estimate. To facilitate comparison between the HUD-1 and the new Good Faith Estimate, each designated line on the final HUD-1 will now include a reference to the relevant line from the Good Faith Estimate.
I think this is pretty cool and less confusing to even the least sophisticated consumers. But hey, this is just my opinion and you are entitled to yours. So let's hear how you think the … (5 comments)

 

Hans Iduma

Certified Mortgage Planning Specialist

Gaithersburg, MD

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