MLchartDataset catalogue

Good faith estimate

Term · Law · MLC-T-LAW-002326

A document provided to loan applicants, particularly in real estate transactions, that details the estimated costs and fees associated with obtaining a mortgage. The Real Estate Settlement Procedures Act (RESPA) previously required lenders to provide a Good Faith Estimate (GFE) to borrowers. This document has largely been replaced by the Loan Estimate under the TILA-RESPA Integrated Disclosure (TRID) rule.

Table 1. Record
IdentifierMLC-T-LAW-002326
FieldLaw
AbbreviationGFE
Record as JSON 
{
  "id": "MLC-T-LAW-002326",
  "term": "Good faith estimate",
  "field": "Law",
  "definition": "A document provided to loan applicants, particularly in real estate transactions, that details the estimated costs and fees associated with obtaining a mortgage. The Real Estate Settlement Procedures Act (RESPA) previously required lenders to provide a Good Faith Estimate (GFE) to borrowers. This document has largely been replaced by the Loan Estimate under the TILA-RESPA Integrated Disclosure (TRID) rule.",
  "abbreviation": "GFE",
  "url": "https://mlchart.com/terminology/law/good-faith-estimate/"
}

Record 2,235 of 5,441 in Law terminology (MLC-0107). Request the full dataset.