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How much will it cost to develop new closing forms?
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Regulatory Updates
Wednesday, February 8, 2012
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Having just adopted new Good Faith Estimate and HUD-1 Settlement Statement forms, and making the necessary upgrades to software, the settlement services industry is on the cusp of another major forms change, this time to a combined mortgage disclosure. How much will these changes cost and how long will it take software providers to develop this software? The American Land Title Association recently submitted a letter to the CFPB with insight from two software providers. Read on to find out what they had to share.
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