by FreeHUD-1.com
1. September 2010 09:23
FreeHUD-1/GFE is no longer available. These Web sites were an introduction to TitleSphere and allowed us to develop a more comprehensive product using the valuable feedback from our FreeHUD-1 and FreeHUD-GFE users.
TitleSphere is a 100% Web-based solution, so there is no software to install and maintain. It gives you the freedom to work from anywhere with an Internet connection.
For more information about TitleSphere or to sign up for a FREE 30 day trial, visit TitleSphere.com.
by bmiller@iwantTSS.com
26. January 2010 14:33
If you are stumped by the the new GFE and how to work with title agents under the new rule, be sure to visit The Koogler Group at
www.KooglerGroup.com. Their new online training program helps you understand how to build the bridge and communicate to create a simple, seamless settlement experience for your customers.
by FreeHUD-1.com
29. December 2009 14:12
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
- Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
- Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.
by FreeHUD-1.com
17. December 2009 11:45
With less than two weeks left to go, the American Land Title Association has published new closing instructions to help provide guidance to both settlement agents and lenders. The new instructions can be found at www.atla.org.
by FreeHUD-1.com
19. November 2009 15:15
Yesterday, November 17th, HUD released an updated set of FAQ's. The new items deal with:
GFE/HUD-1 Font Sizes
Title Services
Document Retention
Tolerance Issues
Realtor Commissions - Rebates to Borrower(s)
http://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf
by FreeHUD-1.com
4. November 2009 10:21
by FreeHUD-1.com
3. November 2009 15:07
Wells Fargo recently announced that they will start using the new Good Faith Estimate (GFE) on December 5th, becoming one of first major players to do so. In an effort to make the transition to the new RESPA changes a smoother process, Wells Fargo has created a comprehensive resource section on their website. This section provides information and guidelines to all parties involved in the real estate transaction working with Wells Fargo.
Please click on the links below for the appropriate Wells Fargo Resource Area.
https://www.wellsfargo.com/mortgage/resources
https://www.wellsfargo.com/downloads/pdf/mortgage/RESPA_Retail_closingagentguide.pdf - "A Closing Agents Guide to working with Wells Fargo Home Mortgage"
by ebatz@iwantTSS.com
26. October 2009 13:27
Earlier this month Fannie Mae announced several changes to their policies, one of those changes being that the borrowers and sellers signatures will need to be on the final HUD-1 settlement statement. As of right now there are no rules set as to which pages need to be signed and what language is to be included along with the signature but be sure that as soon as that information is available we will have FreeHUD-1.com updated.
by FreeHUD-1.com
20. October 2009 15:31
In order to complete the new 2010 HUD-1, you will need two key documents from the lender. These documents are the lenders "Closing Instructions" and the "Good Faith Estimate - GFE" issued by the lender listing the estimated charges for the loan.
The Closing Instructions will list all the fees and charges pertaining to the loan including items such as points or discounts, upfront charges such as home owners insurance as well as any escrow reserves required.
The GFE will list the estimated charges you will need for page 3 of the HUD-1 and will be used to calculate whether the loan conforms to the new "tolerance rules" (see tolerance rules blog below).
by tcarroll@iwantTSS.com
19. October 2009 13:40
Line 1101 on the new 2010 HUD-1 is used to record the total for the category of “Title services and lender’s title insurance” The term “title services” includes:
Any service involved in the provision of title insurance, including but not limited to:
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Title examination and evaluation
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Preparation and issuance of commitment
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Clearance of underwriting objections
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Preparation and issuance of policies
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All processing and administrative services required to perform these functions (e.g. document delivery, preparation and copying, wiring, endorsements and notary); and
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The services of conducting a settlement.