introducing GFE SOS for loan officers in our service market

Check it out.  The form is also linked from our web site just under the title insurance rate calculator.

introducing GFE SOS for loan officers in our service market

Check it out.  The form is also linked from our web site just under the title insurance rate calculator.

had our first closing today with the new HUD-1

All in all, I'd call it uneventful. We were prepared, the lender was prepared, the consumer didn't notice.  ;)

had our first closing today with the new HUD-1

All in all, I'd call it uneventful. We were prepared, the lender was prepared, the consumer didn't notice.  ;)

POC origination fee on new HUD?

We had a request from a mortgage lender today to do a small portion of the origination fee as POC. We weren't sure, so we checked.  No can do.  See the RESPA FAQ, page 41. 

Interestingly this lender has already closed at least one other transaction in which the title agent complied and did the POC.

We're all in this together and we're all on a learning curve.  Every day is interesting and

POC origination fee on new HUD?

We had a request from a mortgage lender today to do a small portion of the origination fee as POC. We weren't sure, so we checked.  No can do.  See the RESPA FAQ, page 41. 

Interestingly this lender has already closed at least one other transaction in which the title agent complied and did the POC.

We're all in this together and we're all on a learning curve.  Every day is interesting and

query: new respa requirements if a portion of the fees will be paid by the seller do tolerance levels still apply

Yes.  Costs that are typically buyer costs must be disclosed on the GFE even if the seller has agreed to pay a portion of the buyer costs.  The credit from the seller will be placed on page one of the HUD and will not be included as part of the tolerance calculations.  That means costs that DO fall within the tolerance rules must be accurate even if the seller is paying a portion.