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Getting Ready for the new 2010 HUD-1 |
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HUD is requiring that loan originators provide borrowers with a standard Good Faith Estimate that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a new HUD-1 settlement statement. New RESPA regulations were published November 17, 2008 and are scheduled to take full effect on January 1, 2010.
We are currently updating our software to have our employees ample time to get used to the new HUD-1 as to avoid any confusion once the HUD takes full effect on January 1, 2010.
If you would like to read about more information on the 2010 HUD-1 Click HERE.

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