The Federal Government has changed the forms used for lenders' Good Faith Estimates (GFE's) and closing statements (HUD-1) to improve the level of disclosure and make it easier to compare between different lender quotes.
Although their intention is good, these changes may cause some chaos until they sort out the problems they may bring to lenders, real estate agent and attorneys.
The New GFE Form
New HUD-1 (Closing) Statement
