Skip to content
BOL Conferences
Thread Options
#779059 - 07/19/07 09:08 PM Place of settlement on HUD form
VRV Offline
100 Club
Joined: Jun 2007
Posts: 173
We are going to be starting a program in which we will send loan closing documents to a borrower's residence for them to sign when it is not convenient for them to come to a banking office. The borrower will need to take the documents to a notary public and sign them in his/her presence. We won't know when we prepare the loan documents exactly where the borrower will be signing the papers. What should be done about filling in the Place of Settlement on the HUD Settlement Statement? Can we just fill in an address of the Bank (either corporate or a branch in that state) or can we leave it blank, and if we do that, do we need to instruct the borrower to fill it in with the address where the documents were signed? (I realize there are many other complexities in this process such as the date of the documents, rescission dates, etc. I'm just trying to determine how picky we need to be about this particular box.) Thanks.

Return to Top
Lending Compliance
#779071 - 07/19/07 09:14 PM Re: Place of settlement on HUD form VRV
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Good question. Since you don't know where settlement will take place, I would just list the bank's address. It won't be right, but what answer will be? I wouldn't leave it blank.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top

Moderator:  Andy_Z