Posted by Negrete on 11/12/08 7:50am
Msg #269499

HUD to Announce RESPA Today

http://capwiz.com/title/utr/1/FJMHJKZXCN/NLZOJKZXHH/2616705421

Reply by Bob_Chicago on 11/12/08 9:44am
Msg #269509

Hope that the WSJ is correct about "No Script" Think...

that would be a major PITA.

Reply by John/CT on 11/12/08 10:32am
Msg #269517

Re: Hope that the WSJ is correct about "No Script" Think...

Well ... we have to give credit to NNA for lobbying against "The Script".

Reply by Bob_Chicago on 11/12/08 12:25pm
Msg #269530

Disagree with NNA's reasoning, (they maintained that

it constituted UPL ), but hey, whatever works.

Reply by BobbiCT on 11/12/08 10:45am
Msg #269520

If the "script" is removed must also credit ...

The American and State Bar associations.
The attorneys who close loans especially did not want to read a script out load to their clients while their clients impatiently sat there waiting to sign. Gives the client the impression their attorney thinks they are idiots who cannot read.

Reply by PAW on 11/12/08 12:31pm
Msg #269531

RESPA Update from ALTA

http://capwiz.com/title/issues/alert/?alertid=12187226

Reply by Linda_H/FL on 11/12/08 12:45pm
Msg #269535

Nobody signs the new HUD? Or are they

going to add signature lines later? Looks like they combined the HUD and TIL...

Reply by PAW on 11/12/08 1:11pm
Msg #269537

HUD Addendum

There is a form, already in use, commonly titled the HUD Addendum. This form states that the borrower/buyer/seller agrees that the numbers on the HUD-1/HUD-1A are correct and authorizes the settlement agent to disburse proceeds according to that document.

I am assuming that that's what will be used, or a similar document.

Reply by Linda_H/FL on 11/12/08 1:43pm
Msg #269543

Re: HUD Addendum

Off the top of my head, I don't recall if that has a certification by the Settlement Agent?

Reply by John/CT on 11/12/08 4:43pm
Msg #269571

Certification Addendum to HUD-1 Settlement Statement

By the Settlement Agent: "The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or
will cause the funds to be disbursed in accordance with this statement."

Reply by Linda_H/FL on 11/12/08 5:48pm
Msg #269574

Thanks John - couldn't find one in my saved files..:) n/m

Reply by PAW on 11/13/08 7:00am
Msg #269590

Sample document

http://www.lakeviewtitle.com/pdf_forms/SAMPLE%20HUD%20FHA%20Certification.pdf

(Lots of other "sample" documents at this site - http://www.lakeviewtitle.com/pdf_forms/)

Reply by John/CT on 11/13/08 10:46am
Msg #269596

Re: Sample document

Thanx, Paul. The one I referenced was for a plain-vanilla loan transaction. I see your's is for an "FHA-Insrured Loan Transaction". I guess there may be other variations floating around also. Hopefully the new RESPA version will still have the "Settlement Agent" certification so I can still decline to sign when a title company asks me to do so on their behalf ... as some have done in the past.

Reply by PAW on 11/13/08 12:59pm
Msg #269603

HUD published the Final Rule

(all 341 pages)

http://www.hud.gov/offices/hsg/sfh/res/finalrule.pdf