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#1721696 - 07/19/12 09:20 PM HUD Cure Calculation
MadMadi Offline
New Poster
Joined: May 2012
Posts: 16
MA
Looking for a spreadsheet that calculates the dollar amount for a HUD cure when there is a tolerance violation in the 10% bucket.

Anyone have one that is willing to share?
TIA

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RESPA
#1721699 - 07/19/12 09:25 PM Re: HUD Cure Calculation MadMadi
KPOC Offline
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KPOC
Joined: Jul 2012
Posts: 460
Greater Boston Area
I don't have a spreadsheet, but we just multiply the sum of the 10% bucket items on the GFE by 110% and deduct this number from the sum of the 10% bucket items from the HUD-1.

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#1721700 - 07/19/12 09:31 PM Re: HUD Cure Calculation MadMadi
Christine81 Offline
Member
Joined: Mar 2011
Posts: 78
We do the same as KPOC

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#1721771 - 07/20/12 01:10 PM Re: HUD Cure Calculation MadMadi
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
We do the same.

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#1722000 - 07/20/12 06:57 PM Re: HUD Cure Calculation MadMadi
MadMadi Offline
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Joined: May 2012
Posts: 16
MA
Thanks. Just keeping a document trail to satisfy auditors. For some reason, they don't trust human fingers and a calculator.

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#1722003 - 07/20/12 07:01 PM Re: HUD Cure Calculation MadMadi
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,341
I haven't had an examiner ask for any sort of documentation of cure calculations. They pull out their calculators and do the math just like we do.

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#1722007 - 07/20/12 07:04 PM Re: HUD Cure Calculation MadMadi
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
MadMadi, check your pm when you get a chance.

FWIW, I haven't either...most loan platform systems calculate it for you any more.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#2020147 - 06/12/15 05:03 PM Re: HUD Cure Calculation RR Joker
Compliance1 Offline
Platinum Poster
Joined: Mar 2006
Posts: 650
Is there any such thing as calculating the 10% cure on an individual fee as opposed to the whole sum of the 10% category?

I believe one is to cure on the whole sum of the 10% category and not just on the 1 fee that is incorrect.

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#2020150 - 06/12/15 05:11 PM Re: HUD Cure Calculation MadMadi
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
You are correct.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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