Blog Posts - Good Faith Estimate



What Is a Good Faith Estimate?

When buying your first home, you’ll have lots of lingo to get caught up on quickly. Understanding the process can help limit the surprises during what is likely the biggest...
by Download Series on Mar 9, 2014

Good faith estimate is …

Good faith estimate A good faith estimate, referred to as a GFE, must be provided by a mortgage lender or broker in the United States to a customer, as required by the Real Estate Settlement Procedures Act. The estimate must … Continue reading...
by What is this ? on Aug 12, 2013

Digital Case Management for the Real Estate Lawyer/Attorney

Tweet The task of a real estate lawyer is not an easy feat. It entails excellent management skills in order for him or her to efficiently perform their key functions. A few of which include the following tasks:   Preparing for the financial summ...
by Legal Software & Technology on Jun 5, 2011

How Do I Remortgage a Secured Loan?

Remortgaging your house or applying for a secured loan can be a significant help with needs ranging from debt consolidation to home improvement. However, both have advantages and disadvantages. Remortgaging your home will likely carry a lower rate, b...
by Remortgage Mastery on Feb 19, 2011

Mortgage News in a Nutshell

Financing and real estate information: 2010 Excellent Faith Estimate, Changes to FHA and the Marketplace Related Financial Planning PostsNationwide Mortga...
by Financial Planning on Sep 29, 2010

Debt Settlement Good Faith Estimate

Reported by NESG | Andy Faria | Updated 9/14/2010 I have read the entire FTC Telemarketing Sales Rule (TSR) document  twice this week, while preparing our  “Good Faith Estimate”. I would recommend reading it in it’s...

New GFE is a Load of Crap

[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]The new GFEs are so confusing you need to be a physicist to understand it and if you have purchased a new home recently you have seen a new HUD-1. Under...
by Financial Elite on May 9, 2010

More Information About RESPA (Detailed information for better understanding on “New RESPA 2010 Changes…What does it mean to you?”)

Taken from: http://www.hud.gov/offices/hsg/ramh/res/respamor.cfm (Excerpts only due to a previous post) Introduction The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. The purposes of RESPA are...
by LoanSolutionsMag on Mar 12, 2010

More Information About RESPA (Detailed information for better understanding on “New RESPA 2010 Changes…What does it mean to you?”)

Taken from: http://www.hud.gov/offices/hsg/ramh/res/respamor.cfm (Excerpts only due to a previous post) Introduction The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. The purposes of RESPA are...
by LoanSolutionsMag on Mar 12, 2010

Loan Updates for 2010 – The Loan Terms Will Be Clearer for the Borrower

HUD is requiring that loan originators provide borrowers with a standard Good Faith Estimate that clearly discloses key loan terms and closing costs and fees.  Loan originators must provide borrowers with a new HUD-1 settlement statement. The new 3-...
by My OC Home Mortgage on Jan 27, 2010

New RESPA 2010 Changes…What does it mean to you?

So, maybe you are someone who has purchased several homes in the past, or perhaps you are a first time homebuyer who’s been tip toeing with the idea of purchasing your first home and have finally decided to dive in. Whichever category you fall into...
by LoanSolutionsMag on Jan 25, 2010

Where can I learn the mortgage loan process before starting work?

I’ve accepted a positon as a mortgage loan officer and it’s been several years since I’ve worked in this industry. I don̵...
by Financial Planning on Jan 18, 2010

New RESPA Guidelines and Good Faith Estimate - Good or Bad?

New RESPA (Real Estate Settlement Procedures Act) guidelines have come out and they will change the way Good Faith Estimates look beginning January 1, 2010. The changes will also increase the level of accountability that goes along with the lending p...
by LoudounScene.com on Dec 21, 2009

Mortgage Refinance Rates - Availing the Best Deal

Low mortgage refinance rates are recommended if you have choose to avail your mortgage refinancing loan, since real estate costs have been steadily declining over the last two years. Availing finance without placing your family in financial stress ma...
by Fabian Davila on Oct 29, 2009

HUD earnest money question?

Hi, we recently received our sales contract back, and are ready to go. We had to put ,000 in earnest money in the escrow of our real estate agent. During the walk through, she told us that she cuts a check back to us at closing, so we were planning...
by FHA Loan Rates on Oct 16, 2009

Am I getting ripped off from my mortgage lender (countrywide), they locked in a rate without my permission?

I’m purchasing a home and I got quotes from different large banks and countrywide gave me the best quote at the time (30 yr fixed 6.75 (1pt), 2nd loan HELOC at prime plus 1% (9.25%). Plus I was already preapproved by them. I never locked in a r...
by Financial Planning on Oct 9, 2009

I have been working with Wilshire Credit Corp for about 5 wks. I am trying to get a short refinance approved.?

I have turned in all the documents they have requested. Hardship Letter, Tax Retuns, W2’s, Paystubs, Good Faith Estimate, Loan Approval Letter, HUD-1, What is next? Everytime I speak with a rep. they either hang up, or keep me on hold for a lon...
by FHA Loan Rates on Sep 28, 2009

What are Conveyance Stamps on a Good Faith Estimate to buy a house?

I am buying a house and on the Good Faith Estimate of closing costs it lists "Conveyance Stamps" at over 00, it is HUD line 1335. What does this mean? Where does the money go and do I have to pay it? Thanks! Related Posts I have a question...
by FHA Loan Rates on Sep 14, 2009

What are the Closing Costs in NJ?

Here is a list of "fees" on the Good Faith Estimate from Wachovia Interest Rate is 5.500% (6.191% APR) 0801 Loan Origination Fee: 46.53 0803 Appraisal Fee 0.00 0804 Credit Report Fee 0812 Flood Certification 0818 Application Fee 09...
by FHA Loan Rates on Sep 8, 2009

How do I decide which mortgage lender to use (interest rate) – not closing on the house for two more months?

I have an exclusive option to purchase a house before it is listed. The owners are building a house and will not be moving out until approximately Sept. 1-15, so I cannot close on the house until then. I have only 2-3 more days left before they put...
by Financial Planning on Aug 27, 2009


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