Posted by MW/VA on 1/5/10 12:35pm
Msg #316728

New HUD

Has anyone done any signings yet with the new HUD? I'm curious to see how it affects our role as NSA's.

Reply by Les_CO on 1/5/10 1:10pm
Msg #316750

I have not done a signing with the new docs yet.

IMO it will not affect the NSA’s. However you should familiarize yourself with the new forms so as to be able to answer any questions the borrower may have. You “just-a-notary” point and sign people needn’t worry. Just say “beats me? Sign please.”

I think the new forms will impact the lenders, and the LO’s.

Reply by Jack/AL on 1/5/10 1:37pm
Msg #316757

Agee with Les I was in a training session for 150 Realtors yesteday, with the teaching being done by four real estate attorneys and one lender. My first guess is that some signings may get delayed after errors/changes/corrections. When we receive a package, we might not know if it was delayed before coming to us. For those that arrive with errors, we can anticipate slightly longer delays (built-in time contraints) before the docs come back ready for signing.

Reply by MW/VA on 1/5/10 3:33pm
Msg #316790

I'm confused about this. I have signings for this week & no new HUD's.

Reply by Les_CO on 1/5/10 4:17pm
Msg #316802

I’m not sure about this, but I think it depends on when the loan was applied for/approved, and when or if the borrowers received their preliminary good faith estimate. If it was last week (year) the new doc’s don’t apply. I think you’ll be seeing them soon.

Reply by CopperheadVA on 1/5/10 5:23pm
Msg #316813

I've done a couple of closings this week and the same old HUD was in the package... Was wondering about it myself.

Reply by Claudine Osborne on 1/5/10 9:19pm
Msg #316846

The new HUD really should not affect us..except the questions that the bos will most likeyl ask..then we can refer them to their LO. I have a few scheduled this week and I not seen the new one yet. I was wondering when they will start to pop up?

How about posting when you do get one and letting us know if and how it affected you?

Reply by JamesLee/VA on 1/6/10 12:07am
Msg #316860

Closing Thursday with New HUD

I have a new HUD being used on a purchase. The loan is an ARM as well.
Ive seen the HUD which is 5 pages. Ill let you know how it goes

Reply by ReneeK_MI on 1/6/10 5:20am
Msg #316865

? What's on pages 4 & 5? New Hud is only 3 pages n/m

Reply by PAW on 1/6/10 7:30am
Msg #316872

Re: ? What's on pages 4 & 5? New Hud is only 3 pages

Pages 4 and 5 are probably the borrower's/buyer's/seller's signature pages and the FHA/VA HUD addendum. Just a guess on my part as I have not seen a completed GFE and HUD using the new format yet.