Sunday, January 24, 2010

New GFE & HUD-1

The feds now require a multi page GFE & HUD-1. It's intended to provide clarification of fees but expect a very confusing form. Make sure your escrow officer and Realtor are on top of any fee adjustments as it will now take longer to amend the GFE and likely required loan docs to be redrawn, causing a delayed close of escrow!