I am getting numerous queries concerning the availability of a SIGNED HUD-1 because folks are trying to comply with IRS instructions related to the tax credit program.
The HUD-1 form is part of RESPA. This link will take you to the pages in RESPA concerning the HUD-1.
Many of you are telling me that the IRS is asking you to provide evidence that individual states do not require signatures on
Thursday, February 18, 2010
IRS confusion over whether or not a HUD-1 must be signed
I am getting numerous queries concerning the availability of a SIGNED HUD-1 because folks are trying to comply with IRS instructions related to the tax credit program.
The HUD-1 form is part of RESPA. This link will take you to the pages in RESPA concerning the HUD-1.
Many of you are telling me that the IRS is asking you to provide evidence that individual states do not require signatures on
The HUD-1 form is part of RESPA. This link will take you to the pages in RESPA concerning the HUD-1.
Many of you are telling me that the IRS is asking you to provide evidence that individual states do not require signatures on
Wednesday, February 17, 2010
Hey, Stewart from GA...
you're welcome and thanks for taking a moment to call.
Stewart is a loan officer who found this post about calculating escrow, used the formula and found that he could predict the escrows with good accuracy rather than having to guess. He has since created a bit of software so he could ditch the pencil and paper.
The funny thing about escrow calculation is that most everyone uses software and
Stewart is a loan officer who found this post about calculating escrow, used the formula and found that he could predict the escrows with good accuracy rather than having to guess. He has since created a bit of software so he could ditch the pencil and paper.
The funny thing about escrow calculation is that most everyone uses software and
Hey, Stewart from GA...
you're welcome and thanks for taking a moment to call.
Stewart is a loan officer who found this post about calculating escrow, used the formula and found that he could predict the escrows with good accuracy rather than having to guess. He has since created a bit of software so he could ditch the pencil and paper.
The funny thing about escrow calculation is that most everyone uses software and
Stewart is a loan officer who found this post about calculating escrow, used the formula and found that he could predict the escrows with good accuracy rather than having to guess. He has since created a bit of software so he could ditch the pencil and paper.
The funny thing about escrow calculation is that most everyone uses software and
Monday, February 15, 2010
In a bizarre move....
we had a lender overfund a closing then ask that we change line 802 on the HUD...AFTER closing.
What?
What?
In a bizarre move....
we had a lender overfund a closing then ask that we change line 802 on the HUD...AFTER closing.
What?
What?
Thursday, February 11, 2010
the unintended consequences of RESPA 2010 and the new HUD
For once unintended consequences are POSITIVE. Yes, positive. I sure don't think they intended to do this but by creating a uniform method for GFE disclosure which flows to a uniform method of HUD prep, we in the title world are enjoying UNIFORMITY of INSTRUCTIONS. I love it.
What was it that everyone hoped to gain with UNIFORM CLOSING INSTRUCTIONS? Uniformity, right? Well, guess what?
What was it that everyone hoped to gain with UNIFORM CLOSING INSTRUCTIONS? Uniformity, right? Well, guess what?
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