The HUD-1 Settlement Statement is the most important closing document you will sign and by law details all closing costs for both the borrower and seller. Request a copy of your settlement statement before close of escrow (COE), and go over it line by line. Compare the Good Faith Estimate
$39.95 After entering coupon code #TRIDTraining , #RESPA This training is geared to experienced mortgage professionals only. https://capstoneinstitute.com/product/in-depth-review-of-the-good-faith-estimate-truth-in-lending-hud-1-settlement-statement/
The HUD-1 settlement statement and Good Faith Estimate forms are going away on August 1. The Truth in Lending Act disclosure is going away as well. In their place will be a new closing disclosure and a new loan estimate. There will be changes to the closing process as well, including a new rule requiring everything to be in place three days prior to closing. And last-minute changes face new hurdles. Learn about the changes in this walk-through.
Easier Truth in Lending and closing statements for home buyers coming in 2005::Currently, lenders must provide borrowers with 4 statements during the home buying process: an Early Truth in Lending Statement, a Final Truth in Lending Statement, a Good Faith Estimate and a HUD-1 Settlement Statement. Beginning August 1, 2015 that will all change and lenders will reduce these 4 statements to just 2.