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1 Day Notice HUD-1 Inspection

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Question: 
Was the one day notice HUD-1 inspection for the borrower prior to closing changed with the HUD changes effective 1/1/2010?
Answer: 

No, read the section from the reg:

Sec. 3500.10 One-day advance inspection of HUD-1 or HUD-1A settlement statement; delivery; recordkeeping.

(a) Inspection one day prior to settlement upon request by the borrower. The settlement agent shall permit the borrower to inspect the HUD-1 or HUD-1A settlement statement, completed to set forth those items that are known to the settlement agent at the time of inspection, during the business day immediately preceding settlement. Items related only to the seller's transaction may be omitted from the HUD-1.

First published on BankersOnline.com 3/22/10

First published on 03/22/2010

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