full50
Joined: 29 Jun 2009
Posts: 3
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| Posted: Mon Jun 29, 2009 6:32 pm Post subject: New HUD ruling |
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Just in case you have not seen the new HUD ruling, here is the whole enchilada. Warning: It's very long and very detailed. This shows a copy of the new HUD and the new GFE. It isn't mandantory until Jan 2010 but once you see it, it may take that long to figure it out! (all 200+ pages of it)
http://www.house.gov/cardoza/originals/HR%201728.pdf |
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Roger_Silvester
Joined: 29 Jun 2009
Posts: 51
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| Posted: Tue Jul 07, 2009 6:13 am Post subject: |
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Indeed its a very huge document and would take some time to go through it. I have already saved the document so that I could go through the 218 pages in my free time. Thanks for sharing the resource.
As per my current knowledge about New HUD Ruling, I would only like to say that, HUD will require, for the first time ever, that lenders and mortgage brokers provide consumers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. |
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