RESPA: GFE & HUD-1 Info that You Won’t Find Anywhere Else
Supplemental Information to New RESPA Rule FAQs
HUD has posted its most current FAQs on the new RESPSA rule effective January 1, 2009 on its website http://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf. The FAQs have been updated from time to time since they were first published on August 13, 2009. Despite the frequent updates, a number of fairly basic questions remain unanswered in one way or another. We contacted HUD recently and they were very helpful in providing the following answers to the questions posed below.
Q. Are there any paper size limitations regarding the model GFE? That is, can the GFE appear on either 8 ½ x 11 letter-sized paper, or 8 ½ x 14 paper, or are both paper sizes permissible?
A. Either paper size is permitted, that is, the GFE can appear on either 8 ½ x 11 letter-sized paper or 8 ½ x 14 legal-sized paper.
Q. Are there any specific top, bottom and/or side margin requirements with respect to the model GFE?
A. No, there is no requirement that either the top, bottom or side margins of the model form be a specific size, and the top, bottom and/or side margins of the model form may be adjusted as necessary.
Q. Can the size of individual data fields be modified from those shown in the model form?
A. Yes, the size of individual data fields may be modified, for example, to permit the requested data to fit in the applicable data field.
Q. The originator company name is to be placed in the Name of Originator field. HUD’s FAQs allow the name of the individual originator to also be placed in this field. Can the applicable licenses numbers for either or both the originator company and individual originator be added after their respective names?
A. Yes, license number information may be added if desired for either or both the company and the individual originator.
Q. Can an addendum to the GFE be utilized if the information does not fit in the space provided?
A. No, addenda to the GFE are not permitted.
