With all the crazyness surounding the new HUD rules and the new forms...I say this is a good time to give your settlement and mortgage folks a big hug. Thanks them for all they did for you last year and let them know that you'll be there to support them in this tough transition. And oh by the way this new change will have a BIG impact on how you set up settlements in 2010.
As agents we do have an obligation to stay on top of what's going on in the mortgage and settlement world, after all it is a primary part of what we are expected to know as licensed professionals. Too many times we defer our clients to 'the experts' which is good, but we don't have any idea what's going on or why - that's bad.
So, do your part. Many associations and RE schools are doing CE on this new HUD-1 and GFE system for agents, this would be a good time to learn it. Or have a chat with your lender or settlement coordinator (or whatever you call them...) and find out what's going on and what you can do to help out. Also find out about what the new rules are that will push you settlement date!
Here's some links that will help...
http://www.thinkbigworksmall.com/mypage/archive/1/23880
http://realtytimes.com/rtpages/20091123_washingtonreport.htm
http://realtytimes.com/rtpages/20091130_washingtonreport.htm
Hope these help. If you have some other good links to share, please do!
So Happy Holidays and go make it a Great NEW Year!!
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