A View from Above: Simplified GFE
If you’re a settlement agent or a real estate professional, you know the score. Make a mistake? Your closing immediately falls out of compliance.
The new GFE-HUD comparison page of the HUD-1, and no matter what software you’re using: it’s a time-consuming exercise in double (and triple) vision. You’ve got to pull numbers out of order: numbers located in disparate locations, in disparate categories, and on different pages. The task is enough to make anyone go nuts.
This is because the categories (popularly known as “buckets”) on this page are organized according to tolerance levels, but don’t match any other categories on the HUD-1 form or GFE form. Even the most seasoned lawyers spend inordinate amounts of time hunting through the GFE form for the right number—then going back to the page and putting that number into the right “bucket”. In short: the process is a recipe for clerical error—not to mention blindness.
Enter the Simplified GFE View: a boon for RESPA compliance. What this is: an uncluttered interface that appears in the form of a simple, one-dimensional list. It presents data in a logical order, and allows you to enter information in a straightforward way, without hunting through tightly-lined forms.
Most of all, it eliminates page-flipping, maddening confusion.
Finish entering the numbers, and print the GFE-HUD worksheet out for your internal review. Amazing how easy it is to review your document—when you’ve got the information filled in and at your fingertips.
We’re thrilled to announce this innovation. Our drive to continue simplifying your real estate practice has helped us to make this one of the most popular real estate closing software products on the market today.
To learn more about our HUD settlement statement software, call us at 800 905 7638.