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 There are some huge - and welcome - changes coming to the Good Faith Estimate (GFE) and HUD-1 Settlement Statement. Coming Jan. 1, 2010, changes will include a new page on the HUD-1 that allows consumers to easily compare their final loan terms and closing costs with those listed on their GSE. The layout makes much more sense.

Good for the U.S. Department of Housing and Urban Development (HUD). The new GSE and HUD-1 now allow a straight-forward comparison between the HUD-1 and the GFE, with each designated line on the final HUD-1 now including a reference to the relevant line on the GFE. Other changes included shortening the GFE form from four to three pages and adding an instructional section to help borrowers understand their loan offer.
 http://bruceclarkhomes.com/OCBlog/default.asp?Display=29Last Updated on 12/17/2008 12:55:00 PM

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