All Posts Tagged With: "HUD-1"
Are ARM mortgage interest rates about to rise?
The Consumer Finance Protection Bureau has come out with a new approach to mortgage financing, good faith estimate forms (GFEs) that are supposed to be better than the form introduced by HUD in 2010. This is important stuff for three reasons: First, HUD estimates that the 2010 GFE saves borrowers $700 per loan. Second, when [...]
31May2011 | Peter G. Miller | 0 comments | Continued
Is The FHA Moving Toward 1% Up-Front Insurance Premiums?
Is the up-front insurance charge for FHA mortgages going to fall? FHA-backed mortgages are now a huge part of the financing landscape, but since April the up-front mortgage insurance premium has been 2.25 percent for most FHA borrowers. Now there’s some discussion regarding the idea of a 1 percent up-front MIP — but a higher [...]
17May2010 | Peter G. Miller | 2 comments | Continued
Can We Have A Paperless Real Estate Closing?
Given the widespread use of electronic devices for just about everything — and given the growing volume of ecommerce — it’s not unreasonable to ask if we can have paperless closings, events sealed with electronic signatures. For the moment and most-likely for a long time to come the answer is no. The problem is not [...]
14May2010 | Peter G. Miller | 0 comments | Continued
How To Read The HUD-1
Since January 1st, 2010, all real estate transactions have been settled using a new HUD-1. The HUD-1 is a standardized form which allows real estate buyers and sellers to clearly understand the costs of their transaction. The original HUD-1 was developed as a by-product of the Real Estate Settlement and Procedures Act of 1974 — [...]
8Nov2009 | Peter G. Miller | 0 comments | Continued
How To Read The New Good Faith Estimate Forms
Since January 1, 2010 HUD has required lenders to use a new Good Faith Estimate form or GFE. This is important because whether you buy a mansion or a cottage, you want to know how much your mortgage is going to cost — not just the interest rate but all the fees and charges you’ll [...]
2Nov2009 | Peter G. Miller | 1 comment | Continued
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