(This is Day 9 of 12 in a series called "The 12 Days of RESPA Reform" which will run until December 31st. For a full list of RESPA topics, check here.)
The purpose of this blog series was to break down the new RESPA changes into small, digestable pieces. Changes like this can be overwhelming - we wanted to make it just plain "whelming." ;)
If you want to dig deeper, and likely you do, here are some good places to go:
1. The HUD RESPA page is likely the best for detailed explanations of the new changes. More specifically...
a) Settlement Cost Booklet for borrowers
b) RESPA in plain English (Powerpoint)
c) RESPA Rule FAQ document
d) The new Good Faith Estimate (GFE)
e) The new HUD-1 Settlement Statement (HUD-1)
2. REALTOR Magazine / REALTOR.org published a breakdown of the changes in April, 2009 here.
3. Housingwire.com published this over a year ago when the changes were announced.
Do you have any other sources you've been using to stay abreast of the new rules? Let us know, we'll add it here!
Tomorrow: Standard v. Enhanced Coverage Title Insurance