RESPA Round-Up December 2010

RESPA Round-Up was released for December 2010.  Among several things, HUD has clarified if the loan originator will be relying on an existing appraisal or survey that was paid for in a prior transaction, you still list the appraisal or survey in Block 3 of the GFE and disclose $0.00 as the charge for that service.

In addition, the Round-Up states if you were not aware at the time of application there would be a VOE/VOD fee from the borrower’s employer or financial institution the loan originator may issue a revised GFE reflecting the charge in Block 3.

You can read more about these clarifications and others by clicking on the link above.


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