by Jennifer Ferri | Feb 9, 2023 | Closing Disclosure Form (HUD1), Financing, Loan Estimate Form (GFE), TRID
The definition of a “business day” is slightly different for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a creditor’s offices are open to the public count as a business day. Loan estimates must be delivered or placed in the...
by Jennifer Ferri | Dec 29, 2022 | Buying, Closing Disclosure Form (HUD1), Financing, Loan Estimate Form (GFE), TRID
Looking to buy a home in the Fort Myers or Cape Coral areas and wondering if your settlement charges can change if you are in the middle of the closing process? Yes, your settlement charges can change if circumstances change, such as: A natural disaster damages...
by Jennifer Ferri | Jan 20, 2022 | Closing Disclosure Form (HUD1)
When you look at the closing disclosure for your mortgage loan, page 3 will compare cash requirements from your loan estimate to your actual final charges. If the answer to the question “Did this change?” is “YES”, notes for changed sections should be provided....
by Jennifer Ferri | Jul 11, 2019 | Closing Disclosure Form (HUD1), Financing
RESPA stands for the Federal Real Estate Settlement Procedures Act. The act requires lenders to disclose information to potential customers throughout the mortgage process. By doing so, it protects borrowers from abuses by lending institutions. That means, as a...
by Jennifer Ferri | Dec 12, 2013 | Closing Disclosure Form (HUD1), Closing Documents
New forms, new ways for Fort Myers and Cape Coral Closings. The Consumer Financial Protection Bureau (CFPB) has issued new rules nationwide for closing loans. The new rules and forms will allow consumers to better understand what they are getting into in terms of the...
by Jennifer Ferri | Dec 3, 2013 | Closing Disclosure Form (HUD1), Closing Documents, Integrated Mortgage Disclosure Rule, Loan Estimate Form (GFE)
Just when you thought you knew everything, it all changes again. This will effect those who are in Cape Coral or Fort Myers as well. On November 20, 2013, the Consumer Financial Protection Bureau (CFPB) issued a rule to replace existing federal mortgage disclosures...
