For some reason the federal government must have a disdain for the environment. In preparation for a class this morning on the new 2010 RESPA requirements, I discovered that there is a much more agregious assualt on our timber resources than the HUD 1 going from two pages to three and the Good Faith Estimate going from one page to three. On page three of HUD's new Settlement Cost Booklet there is a sentence that reads, "..RESPA requires lenders and mortgage brokers to give you this booklet within three days of applying for a mortgage loan." That booklet my friends is 48 pages long. Every mortgage applicant must receive one. What wasteful measure will they think of next.
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