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#1791597 - 03/05/13 08:14 PM HUD Requests??
nikki_compliance Offline
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Joined: Mar 2010
Posts: 520
NM
Hi, I am in the process of trying to make our HUD request process easier. We have a lot of problems when it comes to the HUD 1's for residential loans for example this fee needs to be listed on this line # or completing pg three o the HUD.

So i just wanted to see if everyone else has this same issue and/or what your process is, or how your bank handles these issues. Any help is greatly appreciated. Thank you!

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#1791627 - 03/05/13 08:40 PM Re: HUD Requests?? nikki_compliance
Truffle Royale Offline

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Posts: 17,348
sorry but I don't understand what exactly you're asking for.
HUD request?
If you have 'a lot of trouble' on HUD-1, I suggest you check out BOL's training section. Try this one. Well worth the money and you'll have the CD forever. Best get this straight now before the new disclosures come out later this year.

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#1791635 - 03/05/13 08:52 PM Re: HUD Requests?? nikki_compliance
RR Joker Offline
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Posts: 20,654
The Swamp
nikki, are you having problems with internal staff preparing HUDs properly, or your settlement agents?
_________________________
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#1791641 - 03/05/13 08:56 PM Re: HUD Requests?? nikki_compliance
nikki_compliance Offline
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Joined: Mar 2010
Posts: 520
NM
Sorry i wasn't clear on my post. We are having trouble with the settlement agent, I'm clear on how the HUD should be completed, however we are having issues with the settlement agents preparing them correctly so i am trying to create a form for a more formal request, just wanted to know how other FI's are handling their requests and if they are also having these issue or if we are doing something wrong.

Thank you

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#1791653 - 03/05/13 09:11 PM Re: HUD Requests?? nikki_compliance
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Are you sending them a copy of your GFE for carryover?

ETA: Also, we require the SA to send us the HUD for corrections and don't authorize closing until it is exactly right. They usually appreciate it. smile
Last edited by RR Joker; 03/05/13 09:12 PM.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1791663 - 03/05/13 09:19 PM Re: HUD Requests?? nikki_compliance
nikki_compliance Offline
Platinum Poster
Joined: Mar 2010
Posts: 520
NM
Yes, we are sending the GFE. Just getting them to input line items correctly is the problem. I just wanted to avoid having to go back and forth getting the HUD corrected. Appreciate your help.

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#1791675 - 03/05/13 09:35 PM Re: HUD Requests?? nikki_compliance
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
nikki, pm me your email address and tomorrow I will send you a spreadsheet that may help you out.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1791708 - 03/05/13 10:15 PM Re: HUD Requests?? nikki_compliance
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,348
We prepare a HUD and send it to the settlement agent for comparison. If they don't agree, it's up to them to prove our placement wrong with a Reg quote.
If you're paying for it to be properly prepared and constantly getting basic errors, it's time for someone to contact the boss at the settlement agency.

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#1791972 - 03/06/13 06:01 PM Re: HUD Requests?? nikki_compliance
Evie Offline
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Joined: Sep 2007
Posts: 12
We have a terrible time going back and forth with the settlement agent. I have never received one from an agent that was right.

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#1792018 - 03/06/13 06:52 PM Re: HUD Requests?? nikki_compliance
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,348
I've worked both sides of this discussion. I wouldn't have lasted as a title company closer (settlement agent) if every time I sent out a HUD the bank had problems with it. That's why I advise you to call your settlement agent's boss and let them know about any consistent errors. Everybody makes a mistake sometimes but every HUD should not be a battle.

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#1792311 - 03/07/13 03:45 PM Re: HUD Requests?? RR Joker
Arizona Offline
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Joined: Nov 2009
Posts: 106
Could I get a copy of your spreadsheet too?
Last edited by Arizona; 03/07/13 03:45 PM.
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#1792312 - 03/07/13 03:46 PM Re: HUD Requests?? nikki_compliance
Arizona Offline
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Joined: Nov 2009
Posts: 106
RR Joker - would I get a copy of your spreadsheet too?

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