New RESPA Rules

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Christopher2010

17.05.2010 (733 Days Ago)

Real Estate

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New RESPA Rules

733 days ago 0 comments Categories: Real Estate Mood: None Tags: Respa Rules

As I go into my 14th year of Real Estate I attended a seminar to go over the new RESPA rules the other day and I wanted to turn around in the class and ask how many people have any idea what this guy is talking about or are you lost? Keeping up with every dollar that goes out in a closing will open your eyes to see where a buyer can be taken advantage of. The new rules seem to do some good but I promise you all it is going to do is further confuse the entire industry who 90% could not tell you what the Yield Spread means. I posted an article to a site that is worth going to. I will add this information to this blog but one thing I do see as a benefit to the client is that the loan officer will be more on the line so to speak to be more accurate as his/her figures will be brought forward to the HUD-1 or closing document and if they are not within 10% with certain figures a client now has a recourse to go against the Good Faith Estimate.

Respa Rules