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I was having a discussion yesterday with a great real estate agent (Bill Peck) who was lamenting to me that his home buyers had received three Good Faith Estimates (GFE) from different mortgage companies and they were much more scattered in their estimates than we have traditionally seen.
For those of you who did not read [...]
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I had an interesting conversation with with a residential mortgage lender yesterday regarding the new changes that went into effect on January 1, 2010. For regular readers of our real estate blog, I covered these changes a few months ago in an article about RESPA reform.
His point is that while the changes appear to be [...]
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Congress enacted the Real Estate Settlement Procedures Act (RESPA) back in 1974 in order to address problems in the real estate settlement process. It seems that Congress felt that they could legislate fair business practices and reduce fees and costs to home buyers through enlightenment about the settlement process and the associated costs that go [...]
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