Monday, February 1, 2010

RESPA 2010 - We have our first closing stopped due to need to redisclose.

On Friday evening we had a dry closing.  It was a REO closing and though we had an approved seller HUD - stamped and signed "approved" by the seller's attorney, we did not have a seller signed HUD and so we had our Dry Closing Disclosure signed and held documents and money pending receipt of seller signed HUD today.

Much to our surprise, the seller noted something their attorney did not.  There

RESPA 2010 - We have our first closing stopped due to need to redisclose.

On Friday evening we had a dry closing.  It was a REO closing and though we had an approved seller HUD - stamped and signed "approved" by the seller's attorney, we did not have a seller signed HUD and so we had our Dry Closing Disclosure signed and held documents and money pending receipt of seller signed HUD today.

Much to our surprise, the seller noted something their attorney did not.  There