Is your Realtor up to date on the latest lending regulations?

Real estate agents at Colorado Landmark, Realtors recently attended a training session at Wells Fargo in Boulder to learn about the new RESPA (Real Estate Settlement Procedures Act) regulations that will be going into effect on or before January 1, 2010.

These new regulations are intended to help borrowers avoid surprises at closing by revising the good faith estimate and ensuring that lenders disclose all fees in the same manner so Buyers can compare “apples to apples” when trying to choose a lender.

The new regulations may impact the timing of closings, so it is critical that the Realtor, the title company, and the lender all work together from contract to closing to ensure that each requirement is met in a timely manner and the closing is not affected by any last minute delays. Whether you are buying or selling a home, be sure that you are working with both a qualified lender and real estate agent, who are up to date with new laws and regulations before they take effect. When you choose to buy or sell your home with a Colorado Landmark Realtor you can be confident that we are prepared to handle each facet of your transaction with the highest level of care and experience.

Colorado Landmark, Realtors