Lisa Scanlon

Changes in RESPA

12-16-09

Changes to RESPA

lisa by car As you have likely read the Department of Housing and Urban Development (HUD) made changes to the Real Estate Settlement Procedures Act (RESPA) that are intended to make it easier for borrowers to understand the settlement process.

Here are some important changes taking effect 1-1-10. It establishes a standard 3 page Good Faith Estimate (GFE).

Limits the fee associated with the GFE to the cost of the credit report.

Establishes a 3 page HUD, with the 3rd page for the borrower to compare estimated charges from the GFE to the final charges from the HUD.

Also Eliminated the 1% cap on FHA origination fees.

If you would like additional information on this topic here is a link, http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm

I will keep you updated on any new changes,

Sincerely,

Lisa Scanlon, CSA

941-447-7130

www.scanlonsigningservices.com

4 Comments

Lisa Scanlon
Scanlon Signing Services

Office: (941) 447-7130

Mobile: (941) 447-7130
Secondary: (941) 747-0454

We are a mobile notary company offering mobile loan closings such as re-fi's, purchases, HELOC, and reverse mortgages. we also have our electronic notary seal and laptop. I have performed several elec

About Us:

I am a Certified Signing Agent and Mobile Notary serving Manatee, Sarasota, Hillsborough, and Charlotte counties in Florida. Scanlon Signing Services is fully bonded, insured(100,000.00) and GLBA complaint. I am a member of the National Notary Association. We are available 24 hours a day 7 days a week for all of your loan signing requests.

Areas of Expertise

My experience includes purchases, re-fi's 1st and 2nd, HELOC commercial, and reverse mortgages. Documents can be e-mailed, faxed or overnighted. All are laser printed and double checked for accuracy. I will travel to the borrowers home, place of employment, or brokers office to perform signing.

I have obtained my electronic notary seal, laptop, and the Enjoa system so we also provide electronic mortgage closings.

Testimonials

"I absolutely love this company. I contacted Lisa (Owner) one day for notary services, and in less than 24 hours she

was on the job. She is very professional and we would recommend this company again without any reservations."

Kalena Bowers of Bowers Concierge Services.

"Lisa has always diplayed a high degree of integrity, responsibility, and ambition. She is also a most dependable closing

agent. One that I can call on for last minute closings. She has excellent notary skills and would be an asset to any

organization."

Tina Ireland LSI Title Co