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January 1, 2010 is on the Horizon

Is Your Mortgage Company Ready?

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There are big changes that will impact your origination

and closing process.

Effective January 1, 2010, HUD is requiring loan originators provide borrowers with a Standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs, and that closing agents provide borrowers with a revised HUD-1 Settlement

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RESPA / GFE Changes

Important DatesSettlement ChargesBlock 1 – What goes into itAll other settlement servicesWhat charges can changeWhat charges can notRequirements under the ruleHUD’s interpretation of the rule

Elimination of FHA cap on origination feesPrinciples of RESPA reformKey final terms and processesWhat brokers must knowGFE Notice RequirementsGFE Triggers

To name a few...

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FHA Appraisal Ordering PolicyWhat's the process and

expected impact?

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FHA Mini-Eagle/Broker Approval Process

Important Questions To Consider:

Net Worth Requirements?Are audited financials still required?Will lenders adopt uniform FHA standards?

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Your Time Is

Running Out...

Do you need a better understanding of the new changes that are coming in January?

1. GFE / RESPA

2. FHA Appraisal

3. FHA Broker Approval

NAMB wants to help...

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NAMB Webinar: Tuesday Dec. 1 @ 2pm EST January 2010 Updates RESPA, FHA Broker Approval

and Appraisal Reform

Our Panel Of Experts:

Vicki Bott – HUD Deputy Assistant Secretary of Single Family HousingRoy DeLoach – NAMB CEOTony Gallegos - Mortgage U, Director of TrainingAlice Alvey – Mortgage U, President

Register Online: www.MortgageRevolution.info/hud

A National Association of Mortgage Brokers Event