The "good faith estimate" which is a standard disclosure document sent to borrowers as a part of the Real Estate Settlement Procedures Act (RESPA) will go through a complete change from 1st January, 2010. These changes will come into effect in order to improve the transparency associated with the closing of a loan. As per the new estimate, borrowers will be able to know the loan terms and costs in details. The disclosure document will also specify the rates, whether or not the rates would change and it would also encourage the borrowers to shop around for better terms and conditions.