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#1367949 - 04/01/10 05:03 PM HUD page 3
jme3 Offline
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Joined: Jul 2008
Posts: 67
Illinois
Does anyone know if on the 3rd page of the new HUD-1/1A if it is okay to list the provider/fee being paid to in the comparison tables for the fees listed? I cannot find any examples showing this but our software continues to do so.

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RESPA
#1367984 - 04/01/10 05:40 PM Re: HUD page 3 jme3
Dan Persfull Offline
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Dan Persfull
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Posts: 47,532
Bloomington, IN
Not sure I understand the question. All provider fees shown on the GFE and the HUD must transfer to page 3 in the appropriate sections.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1367992 - 04/01/10 05:49 PM Re: HUD page 3 Dan Persfull
jme3 Offline
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Joined: Jul 2008
Posts: 67
Illinois
Our system for the third page is listing the fee and the amount as required by RESPA, but in addtion, is listing who the fee is being paid to. ex.

Charges That in Total Cannot Increase More Than 10%

Title Services & Lender's Title Insurance to ABC Title Company #1101

All the examples I've seen and what I've read only reference listing the fee and the amount. I cannot find anything saying that you can't list who the fees in the comparison table are paid to, but we do not want to do that since it is inconsistent with everything else we have see through BOL webinars and other examples from HUD etc.

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#1368011 - 04/01/10 06:03 PM Re: HUD page 3 jme3
jme3 Offline
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Joined: Jul 2008
Posts: 67
Illinois
See aboce. I forgot to add, we want to know if this incorrect to do?

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#1368013 - 04/01/10 06:07 PM Re: HUD page 3 jme3
Dan Persfull Offline
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Dan Persfull
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Posts: 47,532
Bloomington, IN
Hmm, not sure I have viable answer.

Appendix A for page 3 does state the "amounts" shown on the GFE and the HUD must transfer to page 3 exactly as disclosed, but it does not reference transferring the provider's name nor does it specifically prohibit it.

I honestly don't think it would be an issue, but if you are uncomfortable with it then either send HUD an email about it or talk with your examiner.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1368018 - 04/01/10 06:09 PM Re: HUD page 3 Dan Persfull
jme3 Offline
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Joined: Jul 2008
Posts: 67
Illinois
Thank you.

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#1378673 - 04/21/10 08:56 PM Re: HUD page 3 jme3
jme3 Offline
Member
Joined: Jul 2008
Posts: 67
Illinois
Update: Contacted HUD and they e-mailed back the same F.A.Q.s I'd already read and did not address the question. So we're going with what our system is doing considering that more information is never a bad thing.

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#1378989 - 04/22/10 01:39 PM Re: HUD page 3 jme3
RR Joker Offline
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RR Joker
Joined: Nov 2002
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The Swamp
I personally don't have an issue if the attorney elects to describe that section.
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