On January 1, 2010, new Federal Rules took effect, requiring lenders and home buyers and sellers to use new forms. Specifically, lenders must use a new, standardized Good Faith Estimate (called the GFE) when taking loan applications. And, at closing, title companies must use a new HUD-1 Settlement Statement (usually called the HUD). The HUD [...]
Archive for the ‘GFE’ Category
Understanding the New GFE Rules in Wisconsin
Posted in GFE, Loans and Lending, tagged closings, dane county, GFE, homestead title, hud, hud-1, madison, owners policy of title insurance, title insurance, transfer tax, wisconsin on April 11, 2010 | 1 Comment »
Skirting The New Lending Rules
Posted in GFE, Loans and Lending, tagged closings, dane county, dane county title, GFE, Good faith estimate, homestead, RESPA, title insurance on February 19, 2010 | Leave a Comment »
New Federal reforms require lenders to follow strict guidelines on disclosing closing fees to their borrowers. The purpose is to give home buyers a more accurate understanding of lending and closing fees and allow them to shop for the best deal. Lenders must now accurately disclose all closing fees at the time of application and [...]
