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Changes that can be made to the hud-1/Good Faith Estimate Form: What You Should Know
D. Loan Origination Fees and Settlement Charges § 1024.15 Amounts paid to Comparison of Good Faith Estimate (GFE). (1) General amount for all the service charges described in paragraph (2) above. If you do not charge a fee for service in the first year of your loan, there is no charge in the second year. (2) Service charges for servicing the settlement charge (see paragraph b) of § 1024.8(b) of this part. (3) Charges for making arrangements to obtain insurance on the covered mortgage, including the amounts for costs related to obtaining insurance and the costs of determining whether insurance is available and the costs of procuring it if it is not. 3. (d) LTV (Limited TDR): Dec 9, 2023 — A separate charge is collected to determine your LTV (Limited TDR) on a loan and to calculate the amount that is allowed as a deduction, but the amount of this charge is based on the amount of your down payment that you submitted to us. Your payment amount is based on either the amount you submitted for your TDR or the amount you actually paid. The amount of your TDR is determined by applying paragraph (e) of this section. (e) If your settlement payment is less than the LTV (Limited TDR) on your loan as of the date the charge is incurred (10,000 or, if over one month later, the total amount, as of that date, of all payments you have received for all years of your loan), then there is no charge to you. (f) You are entitled to a refund of any portion of this charge if and when you provide a statement from us that the charges are for a loan and do not exceed the LTV (Limited TDR) on your loan as of the date the charge was incurred. (g) For refinancing, any portion of this charge that is paid to a loan originator will be deemed as a deposit paid to the loan originator.
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