Goodbye HUD-1 Form. New Home Closing Rules Take Effect Aug. 1
via NAHB Now | The News Blog of the National Association of Home Builders

The Consumer Financial Protection Bureau will institute new rules Aug. 1 regarding disclosures under the Truth in Lending Act and Real Estate Settlement Procedures Act that will affect all home builders, particularly those with a real estate lending arm.


Under the new procedures as a result of the Dodd Frank Act, four documents will be merged into two. The Good Faith Estimate and Truth in Lending disclosures will be eliminated and combined into a new single Loan Estimate form, or “LE.”
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