Posts Tagged ‘Good Faith Estimate (GFE)’

Quick Qualifier, the prequal and marketing software for loan officers, has added the new HUD Good Faith Estimate (GFE) for 2010. At the same time, there is growing interest in original closing cost sheet in the software. Because there are so many new requirements that dictate when you can give the new GFE to a borrower, lenders are looking for an alternative method of showing a client what their costs and cash requirements will be during the home shopping phase. With Quick Qualifier, users have the option of printing the Quick Qualifier closing cost sheet or the official HUD form.Read more

Wolters Kluwer Financial Services is offering banks, credit unions and mortgage lenders a toolkit that can help them prepare for the new requirements to the Real Estate Settlement Procedures Act (RESPA) which take effect on Jan. 1, 2010. The company’s RESPA Tool Kit offers financial institutions a comprehensive overview of the Department of Housing and Urban Development’s (HUD’s) changes. These include revisions to the Good Faith Estimate (GFE) and HUD-1 and HUD-1A documents, as well as Settlement Cost booklets intended to more clearly explain loan terms to borrowers.Read more