On August 1st, 2015, the familiar HUD-1 settlement statement and the Good Faith Estimate (GFE) go away – as mandated by the Consumer Financial Protection Board (CFPB). If you are a Realtor – you need to get ready to change how you do business.
Here is what the National Association of Realtors has to say about the new forms and closing process.
You can read about the new disclosures on the CFPB’s website and preview the new forms. Just click here: The New Disclosures – Know Before You Owe
If you would like me to come to your next sales meeting and discuss these upcoming changes, just let me know. I can be contacted below: