Posted by Marie_MD on 9/13/05 12:24am
Msg #64895

CAL HUD1

I had a strange Hud1 tonight when I questioned the Signing Company I was told it was a California Hud1. The signers told me that they were supposed to be getting $40,00 cash back but I could not show them where it said this on the Hud. Are California Huds that different? I have seen many different types of Huds, but the bottem line always shows What's owed to the borrowers or the lender.

Reply by PAW_Fl on 9/13/05 9:00am
Msg #64920

Quite often with CA lenders and title companies, we don't get a HUD, we get an "estimated settlement costs" sheet. CA is not a table funding state so they prepare the final HUD at settlement. But the estimated settlement statement should still show what is estimated for funds to/from the borrowers at settlement time.

Some of the more astute borrowers that I've dealt with, do not accept the CA estimated settlement sheet. They want a final HUD as that is what they are used to.