<P> 4 . Lenders are accountable for their quotes </P> <Dl> <Dd> Each section in the GFE now directly corresponds to a section of the HUD - 1 . The HUD - 1 is a standardized document that lists every expense involved in a real estate or refinance transaction and is presented to the borrower during the closing process . Each section in the new GFE is now designated a tolerance level . There are three different tolerance levels: </Dd> </Dl> <Dd> Each section in the GFE now directly corresponds to a section of the HUD - 1 . The HUD - 1 is a standardized document that lists every expense involved in a real estate or refinance transaction and is presented to the borrower during the closing process . Each section in the new GFE is now designated a tolerance level . There are three different tolerance levels: </Dd> <Dl> <Dd> <Dl> <Dd> a . 0% Tolerance . If at the closing, any item in the 0% Tolerance category is higher on the corresponding section of the HUD - 1 compared to the original GFE, the lender is responsible for covering the difference . </Dd> </Dl> </Dd> </Dl>

A certificate of title provides a guarantee of ownership