New HUD-1 & GFE on January 1, 2010

Real Estate Agent with Romisher Webb & Associates LLC, Latte Stone Realty

This is happening in New Mexico as well!

Original content by Kristee Leonard

On January 1, 2010, HUD will require that lenders and mortgage brokers provide consumers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. Closing agents will also be required to provide borrowers a new HUD-1 Settlement Statement that clearly compares consumers’ final and estimated costs. 


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