new RESPA GFE/HUD tip

If you see an OLD GFE, you will see an OLD HUD.

If you see a NEW GFE, you will see a NEW HUD.

Some lenders, namely Wells Fargo, are already using the new GFE.  We choose our HUD on a case by case basis depending on the type of GFE used.

The NEW GFE will be mandatory for RESPA covered transactions on January 1st.



We'll still be using the old style HUD for cash transactions and other

new RESPA GFE/HUD tip

If you see an OLD GFE, you will see an OLD HUD.

If you see a NEW GFE, you will see a NEW HUD.

Some lenders, namely Wells Fargo, are already using the new GFE.  We choose our HUD on a case by case basis depending on the type of GFE used.

The NEW GFE will be mandatory for RESPA covered transactions on January 1st.



We'll still be using the old style HUD for cash transactions and other

playing with the new RESPA HUD

I've been taking lender GFEs and testing them to new RESPA standards for about two months.  So far, I have only found TWO that would have been outside of the 10% tolerance.

THAT'S FANTASTIC!

What this tells me is that a loan officer who gives a reasonable effort in the numbers is usually safe.

What this also tells me is that loan officers must take their skills to a higher level and be aware

playing with the new RESPA HUD

I've been taking lender GFEs and testing them to new RESPA standards for about two months.  So far, I have only found TWO that would have been outside of the 10% tolerance.

THAT'S FANTASTIC!

What this tells me is that a loan officer who gives a reasonable effort in the numbers is usually safe.

What this also tells me is that loan officers must take their skills to a higher level and be aware