Coldwell Banker Mortgage can make the transition easier for you and your customers!

Industry Update: New GFE and HUD-1 Forms are coming. Coldwell Banker Mortgage can make the transition easier for you and your customers!

New GFE and HUD-1 Forms Are Coming
Effective for loan applications taken as of January 1, 2010, all lenders are required to issue the new government-mandated Good Faith Estimate (GFE). Closing agents must use the new HUD-1 Settlement Statement when the new GFE is used.

We are well-prepared for this change so we can help make the transition easier for you and your customers. To give you a head start, here is a quick summary of what to expect come January:

  • The new 3-page GFE groups closing costs into standard categories to help customers to compare estimates to the actual costs listed in the HUD-1
  • The new GFE doesn’t specify precisely how much money customers need at closing because it excludes some fees and credits. Also, the GFE can only be issued when your customer has chosen a property.
  • When your customers contact Coldwell Banker Mortgage for a pre-approval decision, we’ll give them an informative Estimated Funds Needed for Closing summary to let them know how much they will need—even if they have not selected a property.

Your local Mortgage Advisor can provide you with additional information and guidance. As always, we will continue to work hard to ensure that you and your customers enjoy a smooth and easy closing.

Holiday Greetings from Coldwell Banker Mortgage.

The entire team at Coldwell Banker Mortgage wishes you and your family Happy Holidays and a healthy and prosperous New Year. We appreciate the opportunity to serve the home financing needs of your customers, and we look forward to working with you in 2010. As always, we’ll give your customers a free, same-day loan decision, guaranteed—or we’ll pay them $250. We work hard to give them a smooth and easy mortgage experience, and we’ll take the time to help them select the loan that’s right for their needs.

Ask your customers to contact your local Coldwell Banker Mortgage Advisor or call 866-CB-LOANS (866-225-6267) for a free, same-day loan decision—guaranteed! 

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