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Posts Tagged ‘Good faith estimate’

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 stick to their quote. Nevertheless, some lenders are sidestepping the new rules with improvised and inappropriate practices.

See: “How are those new ‘good faith estimates’ working out?”

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