Good-Faith Rule Has a Hidden Side

Berry, Kate
December 2009
American Banker;12/31/2009, Vol. 174 Issue 231, p1
Trade Publication
The author focuses on a new mortgage disclosure rule by the U.S. Department of Housing and Urban Development (HUD). Lenders will be held to their good-faith estimate of closing costs. HUD had estimated savings for borrowers who would be able to find the best price. However, the author mentions that lenders may raise their own fees to cover their risk.


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