HUD-1 settlement statement

[Anonymous]

Is it true the final figures in the HUD-1 settlement statement should NOT exceed 10% of your initial GFE (Good Faith Estimate) ?

[NC_Mtg_Loaner]

Only the service items you are not allowed to shop for can increase by 10% without repercussion.  

YOur Initial Loan Estimate (LE) replaced a GFE one October and a CLosing Disclosure replaced the HUD1.  GO ogle TRID RESPA for more information, but if anything that you couldn't shop for increased by more than 10% and you weren't made aware of it and acknowledged it then it's possible your lender will not be allowed to charge you a higher fee in order to remain compliant with RESPA.

Things you can shop for can change but that is then out of the hands of your trusted lender.   

Things like inspections (unless your lender included that inspector as a service provider in your LE), home owner's insurance, HOA fees and dues, property taxes, and such.

[StartingOver10]

Shanethemortgageman has made two excellent threads explaining the Loan Estimate and the Closing Disclosure.  Take a look at the helpful threads section in the stickies:

http://ficoforums.myfico.com/t5/Mortgage-Loans/Helpful-Threads/td-p/415299

Here they are below too:

http://ficoforums.myfico.com/t5/Mortgage-Loans/Understanding-the-Loan-Estimate-LE-Part-I-of-II/m-p/4...

http://ficoforums.myfico.com/t5/Mortgage-Loans/Understanding-the-Closing-Disclosure-CD-Part-II-of-II...