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RESPA
HUD Cure Calculation
Thread Options
#1721696
-
07/19/12
09:20 PM
HUD Cure Calculation
MadMadi
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
Gold Star
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
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
Diamond Poster
Joined:
Sep 2008
Posts: 2,481
Midwest
We do the same.
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#1722000
-
07/20/12
06:57 PM
Re: HUD Cure Calculation
MadMadi
MadMadi
New Poster
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
10K Club
Joined:
Jul 2003
Posts: 17,410
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
10K Club
Joined:
Nov 2002
Posts: 20,656
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
Newbie06
Platinum Poster
Joined:
Mar 2006
Posts: 771
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
10K Club
Joined:
Nov 2002
Posts: 20,656
The Swamp
You are correct.
_________________________
My opinion only. Not legal advice.
Say you'll haunt me
- Stone Sour
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