HUD releases FAQs on new GFEs and reverse mortgages
The U.S. Department of Housing & Urban Development (HUD) has release a list of Frequently Asked Questions (FAQs) focused on Home Equity Conversion Mortgages (HECMs) and reverse mortgages. The list details on how the new Good Faith Estimate (GFE) should be filled out after Jan. 1, 2010 when the new Real Estate Settlement Procedures Act (RESPA) rules are enacted.
Click here for a copy of the FAQs for reverse mortgages.
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