lender worksheets: National Media Claims Lenders Skirting New RESPA Good Faith Estimate Through Loan "Worksheets" And "Fee Estimates" - 01/21/10 11:35 PM
(As a lender/buyer closing attorney--file this under "Don't Shoot The Messenger! And Blame HUD, Not Me!")
The Los Angeles Times and other media outlets are claiming that lenders' use of loan cost worksheets and estimates are a "sidestep" of the new RESPA mandated Good Faith Estimate which went into effect on January 1.  HUD officials say they plan to conduct a review of the growing use of “worksheets” and “fee estimate” forms by mortgage lenders providing quotes to home buyers and refinancers.
The new closing cost rules under the Real Estate Settlement Practices Act (RESPA) significantly changed the manner in which … (155 comments)