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Wyatt Bell's Blog

New CFPB Settlement Disclosure Form (HUD 1/1A) - Round 2
by Wyatt Bell | 2011/12/14 |

The Consumer Financial Protection Bureau has issued the 2nd round of the proposed Settlement Disclosure Form which will replace the GFE HUD 1/1A.  

Wyatt Bell's Blog ::


You may vote your preference at KNOW BEFORE YOU OWE.

Mimosa Example

Sassafras Example

I haven't had a chance to do the math on these. I'll post later with any irregularities.

 




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Comment on Sassafras

If you "do the math" you will find that on page 2 there is bold faced information that purports to total the costs in section A, B and C in column titled paid at closing by borrower. The totals do not match because they do not take into account the items paid by buyer outside of closing.

As you scroll further down, there is a true representation that takes into account all of the POC items, but, I don't think the average consumer is going to make the distinction right off the bat. 

Have not reviewed Mimosa yet.

 
by CHARLENE PERRY | 2011/12/15 | log in or register to post a reply
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