Posted by Jeffrey Sestilio on 8/7/08 4:48pm
Msg #259166

I've got a signing but the title

company said only to use their estimated closing statement. Shouldn't the borrower have and sign the HUD?

Reply by MW/VA on 8/7/08 5:06pm
Msg #259176

This does get confusing. On the closings that I do for some CA tc's, they only use an "Estimated Closing Statement". I've been told that's how they do it, and that they finalize the figures at disbursement.

Reply by CopperheadVA on 8/7/08 6:31pm
Msg #259191

I agree with MW/VA - if it's a CA title company, they only give you an estimated closing statement.

Reply by Ilene C. Seidel on 8/7/08 7:23pm
Msg #259196

I've had a couple of them in Md, don't remember where the title co was located. It is unusual.

Reply by JanetK_CA on 8/7/08 7:43pm
Msg #259198

The others are right. It's pretty much SOP in CA. It's rare that I see a final HUD in a package - and then nearly always from out of state escrow companies.

Reply by PAW on 8/7/08 9:06pm
Msg #259213

CA is an escrow closing state, not a table funding state

That's why CA only provides estimated settlement statements, because the payments are just that, an estimate, until the payoffs are settled. Then a final statement is produced. For table funding states, the HUD at the table is considered final and that's the figures that will be used for settlement.