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The following changes become effective January 1, 2010, however, HUD has announced that it will not enforce for a 120 day period.
Revised Good Faith Estimate (GFE)
New tolerances for GFE
Required Disclosure of key loan terms, closing costs and Yield Spread Premiums
Revised HUD-1 Settlement Statement
Revised definitions for applications, Good Faith Estimate and Mortgage Broker
Download the following PDF FAQ's and Forms:
New RESPA RULES FAQ's (Updated 11/19/09)
New Good Faith Estimate Form
New HUD-1 Form
For additional information from HUD's website, click here.
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