I wanted to take a poll to see what is happening in the industry as far as the HUD reconciliations.

What I would like to know is if you are doing a pre-funding or post funding reconciliation of the HUD to the GFE. Please respond with PRE or POST and any reasons for the decision.

Thank you

Pre- We sell 99% of our loans after they close, correcting at POST would delay the sale

Ditto, except change 99% to 100%

Especially now with LQI pre-funding requirements, we've just expanded our regular pre-funding double check to include this. We also do a 100% post closing review before we sell. If there's a problem, we have to get it fixed before the investor will take it. btw, we sell 100%.

We do a 100% pre and post. Most of our loans are portfolio loans. We sell to Freddie but keep the servicing. About 5% of the loans we make are sold in whole to a correspondent lender.

Pre: correcting at post closing could delay funding.
Post: correcting at post closing could delay funding.