Posted by tmg/Tx on 7/29/09 11:34am
Msg #297875
HUD Signature
If the borrower does not sign the Hud and their name is printed, does the loan still close?
|
Reply by Keystone_SA on 7/29/09 11:52am
Msg #297877
I've had instances where the borrowers refused to sign the HUD at closing and the title company and LO was aware of it. They can have the HUD signed during the recission period. As long as you notified the TC or LO that the borrower refused to sign, it should still be considered closed, as far as you would be concerned.
|
Reply by PAW on 7/29/09 11:52am
Msg #297878
Lender's call
Some HUD's do not require borrower signatures. Most do. However, whether or not the loan closes is up to the lender. The lender makes the determination what documents need to be executed and which ones will and will not delay funding.
|
Reply by tmg/Tx on 7/29/09 12:26pm
Msg #297885
Re: Lender's call
It was an over sight on my part. Borrower refused to give me a check because the HUD was wrong. It was my secound appointment with this borrower because the HUD was wrong and still had not been corrected. We talked to the LO at the Bank of America and the Officer waved the check. Mostly like the Hud will be re-done. Should I return to the borrower and get a signature any way before I ship the docs?
|
Reply by Linda_H/FL on 7/29/09 12:28pm
Msg #297886
tmg....call your hiring party (SS or TC) and let them
make the call - I doubt your borrower is going to sign an incorrect HUD...
|
Reply by PAW on 7/29/09 12:30pm
Msg #297888
What Linda said. n/m
|
Reply by Keystone_SA on 7/29/09 12:31pm
Msg #297889
Re: Lender's call
IMHO, I would charge for the trip. If they sent you back out with the wrong HUD, again, that's their fault, not yours. They can always just mail the HUD back to the borrowers for them to sign.... Ultimately, it's your call.
|
Reply by tmg/Tx on 7/29/09 12:39pm
Msg #297891
Re: Lender's call
Thanks, I'll give them a call
|
Reply by MW/VA on 7/29/09 4:15pm
Msg #297934
In my experience they will sometimes email a corrected HUD to the borrower. I haven't been requested to make a trip & it doesn't require notarization, so it can be handled without me.
|
