Financing, For Buyers, For Sellers
January 1, 2010 HUD-1 and GFE Changes
January 18, 2010
Effective January 1, 2010 a new Good Faith Estimate (GFE) and HUD-1 (closing statement) are required. These updated forms are designed to better inform borrowers and to restrict fee increases that borrowers have experienced in the past. It should help to eliminate surprises at the closing table in relation to fees the borrower pays or costs of getting the loan. The following video from REALTOR TV explains some of the changes.
