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Tag Archives: GFE

HUD’s New Settlement Cost Booklet

Posted in Real Estate Settlement Procedures Act

The Department of Housing and Urban Development has released a new Settlement Cost Booklet, much of which is dedicated to the new Good Faith Estimate and HUD-1 Settlement Statement (read more about the changes here). Pursuant to the new rules promulgated under RESPA, effective January 1, 2010, lenders and mortgage brokers must provide the Settlement Cost Booklet within three days of when a borrowers applies for a loan. Click here for the electronic version of HUD’s Settlement Cost Booklet.