2010 GFE – Trick or Treat?

Jody Collup

Jody Collup

As we slide into the Halloween weekend it’s admittedly hard to focus on candy and costumes with all the change causing uncertainty in the mortgage industry.   While you may not perceive the new 2010 GFE as a “treat”,  once you work with it to figure out what comprises the various calculations and what information goes where – it most likely won’t feel as “tricky” either.

Point 7.1, released this past August has both the current and 2010 GFE  available as will the upcoming 7.2 version next month.  Find some time over the next two months to familiarize yourself with the new form and how it works to ensure you are ready-to-go come January.  Take a look at our 2010 GFE knowledge base online article as you get started with your orientation.  If you need more help, we’ve got online training classes available where you will be able to complete a new GFE under the guidance of a Calyx trainer.

Here’s a tip for you as you get started – the 2010 GFE is three pages:

  • Page one consists of important dates, summary loan information, escrow account information,and a summary of settlement charges.
  • Page two covers the adjusted origination charges and the charges for all other settlement services
  • Page three gives you an optional trade-off table and shopping cart grid.

Be sure to have a happy and safe Halloween weekend, and let us know if you need any help getting through the  new GFE.  Our support lines are open at 800-342-2599 and our training line is 800-362-2599 extension 4.

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