The U.S. Department of Housing and Urban Development propose a new standardized and borrower-friendly Good Faith Estimate Form.
In comparison with the forms currently in use, which tend to create a state of confusion that could be cited as one of the contributors of the nation’s mortgage crisis, the new form is both attractive and easy to read.
The new form is four pages long, and contains many significant improvements over the forms which should make the form more likely to be read, especially if it’s reproduced as it’s designed right now.
For more information on the proposed Good Faith Estimate Form click here
