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Published byMyrtle Simon Modified over 9 years ago
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GOOD FAITH ESTIMATE the new 2010 changing for
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“ ” THERE IS NOTHING WRONG WITH CHANGE IF IT’S IN THE RIGHT DIRECTION. winston CHURCHILL
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NOV 2008 HUD AMENDS RESPA
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TRANSPARENCY changes to provide
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STANDARDIZE how loan fees are DISCLOSED
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the new GFE different WAYS in many
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1 2 3 PAGES three
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BUNDLED costs are together
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WHO COSTS doesn’t show is paying the
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MONTHLY PAYMENT doesn’t show
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LOAN PROGRAM doesn’t show
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Initial GFE is binding and can only be changed under certain circumstances.
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act of GOD
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INFORMATION change of
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GFE 2010 STIPULATIONS
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Can’t issue a GFE without a complete application.
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THESE SIX ITEMS APPLICATION make a complete NAME SOCIAL SECURITY # MONTHLY INCOME PROPERTY ADDRESS PROPERTY VALUE LOAN AMOUNT
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LIMITATIONS tolerance 0% 10% Unlimited
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FORWARD moving
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client REALTOR STAFF CLOSING AGENT LENDER TEAM ENVIRONMENT providing advice in a
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PROCESS refined
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“ ” The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday’s logic. peter DRUCKER created by:
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