Posted by BeccaWI on 5/5/05 3:02pm
Msg #36058

No Hud-told to go

Hello everyone! I searched and read the post on not having a hud in the packet of paperwork that Paw-FL copied. I am having a hard time understanding it(severe lack of sleep). Is it illegal not to have a hud?

I was told to go if I don't get the hud in time. Not sure how I feel about this, any input would be great!

Thanks!

Reply by Al Takem CA on 5/5/05 3:06pm
Msg #36060

Chimp

Go...geeez!?!

Reply by BeccaWI on 5/5/05 3:08pm
Msg #36061

Re: Chimp

well I did ask for any input. I should have requested human, normal people respond! Thanks for the info! Now go eat the bugs off your fellow chimps

Reply by Stephen_VA on 5/5/05 3:09pm
Msg #36062

You *can* go without the HUD, but someone should direct you to do that. Most of the time (99%) they want the HUD signed with the package.

Reply by Ernest_CT on 5/5/05 3:12pm
Msg #36063

Agree with Stephen_VA. Be sure to get the directive to go via email or fax, if at all possible. At the very least, note the date/time you are told and get the full name of the person who tells you to go HUD-less. You don't want to be blamed.

Reply by MsRobbo on 5/5/05 4:30pm
Msg #36082

Have a closing tonight and no HUD in the package. The lender said to go anyway.

Reply by BeccaWI on 5/5/05 3:13pm
Msg #36064

ok thanks! The signing company did direct me to go, just taken aback by it! Thanks for your response, have a good afternoon!

Reply by kari/CA on 5/5/05 3:24pm
Msg #36066

As long as they have told you to go, it is O.K. to proceed. They can mail it to the borrower for signatures.

Reply by Jon on 5/5/05 5:22pm
Msg #36103

The legality of having or not having a Hud is not for us as SA's to decide, it is up to the lender or title co to determine. If they say go without one, go without one. If they say you have to have it, make sure you do.

The lender or title co is responsible for ensuring that all required regulations are complied with for a loan. If we happen to notice something, like no RTC's for a refinance, we can ask the lender if about it, but ultimately it is not our job to make sure the lender is in compliance with any applicable laws. Personally, I don't get paid enough to be responsible for the lender's quality control.

Reply by Luis on 5/5/05 6:22pm
Msg #36120

it is always fine to go out to a signing location with out the Hud being at the appt, the lender can always fedex it to the borrowers to have them sign it on there own. but it's a 50 50 chance the borrower is going to sign with out there HUD cause they always want to see a break down of there loan and you as a notary need to find out if they owe money at the time of the closing.

Reply by PA Notary II on 5/6/05 9:03am
Msg #36222

Unless I'm mistaken, wouldn't the lack of a HUD-1 require an adjustment to the date on the RTC? The 3 day recission is supposed to start on the day the B's receive ALL of their legals.

Reply by PAW_Fl on 5/6/05 10:40am
Msg #36237

No. The HUD is not considered one of the disclosures that is required for the RTC to start. According the statute (12CFR226.15), certain details of the RTC must be disclosed. The FTC adds that the TIL must also be provided. Other than that, those are the only disclosures necessary for the clock to start ticking: Notification and receipt of the RTC; and receipt of the TIL.

Reply by PA Notary on 5/6/05 12:09pm
Msg #36254

Thanks for the heads up !