The biggest changes to home loan disclosures since the 1970s are around the corner and many in the industry are warning that misunderstandings will create a logjam of confusion just as housing tries to recover. A complete overhaul of the “good faith estimate” — a standard disclosure document sent to borrowers — under the Real Estate Settlement Procedures Act, known as RESPA, will take effect on January 1, potentially disrupting home sale closings.

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