Posted on March 3rd, 2010, by DHW
Recent regulatory changes to RESPA are focused on creating a more transparent experience for homebuyers and borrowers.
The upside:
Borrowers are able to compare actual closing costs with fees originally quoted on the lender’s good faith estimate (GFE)
Lenders are required to provide more accurate GFEs or be forced to reimburse borrowers for certain costs that exceed the [...]
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Tags: attorney, borrowers, changes, closing, closing statement, escrow, homebuyers, hud-1, real estate closings, respa, time, title
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Posted on February 28th, 2010, by DHW
As of Sunday, the new RESPA handbook was the most searched topic on DesperateHouseWise.com this month. With real estate attorneys and lenders scrambling to conform with new regulatory changes, buyers and sellers (as well as real estate practitioners) are looking for additional guidance.
The Real Estate Settlement Procedures Act (RESPA) is a federal law designed to [...]
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Tags: changes, handbook, respa
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Posted on February 1st, 2010, by DHW
The Treasury unveiled new changes to the Home Affordable Modification Program (HAMP) that could streamline the process for homeowners.
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Tags: changes, HAMP, home affordable modification program
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