Comments on: The New 2010 GFE Protects Borrowers from Themselves http://www.bestfhalender.com/mortgage-industry/the-new-2010-gfe-protects-borrowers-from-themselves/ The best source for FHA home loans, FHA refinance loans and FHA purchase mortgages. Wed, 14 Jul 2010 03:40:17 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Steve Lines http://www.bestfhalender.com/mortgage-industry/the-new-2010-gfe-protects-borrowers-from-themselves/comment-page-1/#comment-1770 Steve Lines Tue, 16 Feb 2010 15:07:04 +0000 http://www.bestfhalender.com/?p=1034#comment-1770 Dean, I can see how you could feel that way and I'm not a "new GFE" apologist. However, keep in mind that the new GFE is not supposed to be issued until a complete application has been taken. Borrowers, loan officers and real estate agents are going to have to look to the loan application and find Section VII. Details of Transactions for the breakdown of total closing costs, seller paid closing costs and cash required to close and Section V. ... Combined Housing Expense Information for the details of the proposed monthly payment. Dean,

I can see how you could feel that way and I’m not a “new GFE” apologist.

However, keep in mind that the new GFE is not supposed to be issued until a complete application has been taken.

Borrowers, loan officers and real estate agents are going to have to look to the loan application and find Section VII. Details of Transactions for the breakdown of total closing costs, seller paid closing costs and cash required to close and Section V. … Combined Housing Expense Information for the details of the proposed monthly payment.

]]> By: Top 10 real estate posts of the day for 2/16/2010 : Tempe real estate and free home search http://www.bestfhalender.com/mortgage-industry/the-new-2010-gfe-protects-borrowers-from-themselves/comment-page-1/#comment-1769 Top 10 real estate posts of the day for 2/16/2010 : Tempe real estate and free home search Tue, 16 Feb 2010 14:44:42 +0000 http://www.bestfhalender.com/?p=1034#comment-1769 [...] The New 2010 GFE Protects Borrowers from Themselves – The new GFE is now 45 days old and lenders are starting to get used to it. As Steve points out [...] [...] The New 2010 GFE Protects Borrowers from Themselves – The new GFE is now 45 days old and lenders are starting to get used to it. As Steve points out [...]

]]> By: Dean Ouellette http://www.bestfhalender.com/mortgage-industry/the-new-2010-gfe-protects-borrowers-from-themselves/comment-page-1/#comment-1768 Dean Ouellette Tue, 16 Feb 2010 06:21:46 +0000 http://www.bestfhalender.com/?p=1034#comment-1768 ok that may be the intent, but when a gfe does not tell the buyer how much money they will need to come to closing with, or how much their monthly payment is, it is a #FAIL ok that may be the intent, but when a gfe does not tell the buyer how much money they will need to come to closing with, or how much their monthly payment is, it is a #FAIL

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