Posted by Tina/PA on 6/23/05 2:52pm
Msg #47187

HUD-1

A title company is asking me, as a signing agent, to prepare their HUD-1s. Can I do this in PA?

Reply by PAW_Fl on 6/23/05 2:59pm
Msg #47189

Are you a title agent, title officer, settlement agent, settlement officer, title closer, escrow officer? The answer is probably "no". Do you even know how to prepare a HUD? It's one thing to be able to describe what the HUD-1 is, but an altogether other ballgame to actually prepare the HUD-1. Do you even have the software to prepare one?

Reply by Tina/PA on 6/23/05 3:32pm
Msg #47199

No, I'm not any of those. The title company said they would show me show to prepare them.

Reply by Dmartz/IN on 6/23/05 3:35pm
Msg #47200

Don't do it!!!!! You can be held liable for this. Listen to PAW PLEASE!!!!!!!!!

Reply by sheila in san jose ca on 6/23/05 3:39pm
Msg #47203

unless they are employing you on staff as a regular employee, they have no business asking you to do this!

Reply by Tina/PA on 6/23/05 3:42pm
Msg #47204

I must be stupid, but why WOULD they ask me to do it?

Reply by Nancy in Florida on 6/23/05 9:28pm
Msg #47275

The reason they would ask you to do it is because they don't want to. If you do not have any experience completing the HUD I would not even consider it. I have completed HUD's both manually (handwritten, those were the good old days) and I have used different software programs to complete them as well. In those instances I worked as a RE paralegal at a law office and as as a Title Closer. When preparing the document there are alot of checks and balances to be sure the figures are correct. Without all of the other internal information I do not see how you could prepare the HUD.

Reply by Sherri_IN on 6/23/05 10:01pm
Msg #47292

Unless you will be working directly for the Title Company you really can't prepare the HUD. You would need to use their software and I would advise having experience doing this.

It sounds like they may be wanting to out source the settlement side and just do Title. This is becoming a little more common. I own a Settlement Company here in Indiana and handle the preperation and closings for some of Freddie Mac

Reply by Tina/PA on 6/24/05 8:19am
Msg #47399

Thank you all for your replies. It doesn't sound like something I should/could do.