8. “Other Settlement Services” = 3rd Party ChargesTotal Estimated Settlement Charges [A+B] can be found on bottom of both PAGE 1 & PAGE 2 of the new GFE.
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10. The origination charge (Line 1) consists of all Lender Administration Fees.
17. A loan w/ higher closing costs (but a lower rate)GFE Pg. 3
18. Shopping Chart Easy comparison shopping for Buyer, between loans and lenders. The Borrower fills out the Shopping Chart to compare different loans and/or lenders. GFE - PAGE 3
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20. Lender cannot charge Borrower for preparation of the GFE; Lender can only charge for Credit Report.
29. Owner’s Title Insurance HUD: “If a title claim occurs, it can be financially devastating to an owner who is uninsured”. “If you want to protect yourself from claims by others against your new home, you will need an owner’s policy”. * Shopping for Your Home Loan HUD's Settlement Cost Booklet. Pg. 20
42. Active Rain. Established platform for Realtors. Good SEO.Get a unique URL like www.newtonmahomes.com, instead of using Wordpress URL. Make your blog a stand alone entity. Better for SEO. Do link your blog to your website. Header Art: If Do It Yourself, invest in some nice looking header art, or hire a blog designer. Better looking, better designed blogs attract more readers and traffic. Have an About Me and Contact pages. Key for business generation. Do guest blog posts for your favorite lender, home inspector, attorney, mover, etc.
43. Creating a Killer Realtor Blog Must-Have “Widgets” and “Plug-ins” Optimize your blog! RSS (Really Simple Syndication) Feed. A must! Google Feedburner is a good choice. Share Button. Email Subscription. Google Feedburner offers free service. Can track subscribers, and capture their email addresses. Twitter and Facebook integration. Stats: Set up Wordpress Statistics or Google Analytics
HUD is educating consumers on how changes in the interest rate can effect monthly mortgage payments and settlement costs.
Application Inaccuracies=credit worthiness, amount of loan, estimated value of the property…Unforeseen Title Curative Requirements (boundary disputes, need for flood insurance, environmental problems…)