Posted by Patti Corcoran on 12/21/11 11:02am
Msg #407195

When there are two different HUD's

OK, call me stupid, but I cannot tell which HUD to use as "final". They each have the same loan amt., same dates, but cash to BO is different. I have a call in to the SS, however, is there a way to tell the difference between the two that I should learn? Thanks.

Reply by Linda_H/FL on 12/21/11 11:10am
Msg #407197

Hard to say without seeing them....if they both seem

to be complete (with all possible expenses accounted for) I wouldn't even being to assume which one is the final and which one to use - there may be additional charges added in that account for the lower cash to borrower, or there could be credits given that could account for the HIGHER cash to borrower.

Best to leave that call to SS or TC..

Good Luck!!

Reply by Linda_H/FL on 12/21/11 11:11am
Msg #407198

Duh..."being" s/b "begin"... n/m

Reply by CopperheadVA on 12/21/11 11:13am
Msg #407199

I would double-check with TC just to be sure, but sometimes the versions are numbered at the very bottom right corner of the HUD. Not always though.

Reply by Patti Corcoran on 12/21/11 11:30am
Msg #407203

Re:TC's response

"Don't know why they included that other one!" Glad that I called. Thanks everyone!

Reply by Linda Juenger on 12/21/11 11:49am
Msg #407206

Re: Re:TC's response

99% of the time I can tell which is the final, but that 1% gets me every time. More times than not, the prelim hud is buried in the pkg. The final one usually comes with the Title docs. But... (there's always a but), the entire pkg is together (title docs and lender docs) and its hard to tell. I get confused sometimes and have to call just to be sure which one is final. Never *ass*ume anything.

Reply by Eve/VA on 12/21/11 12:26pm
Msg #407218

I don't like it when two different HUD-1s are in the package and neither is marked as to which is the most current.

I learned about this the hard way as a newbie when the BO saw the oldest HUD-1 and refused to sign either because he was confused by two being in the package. Now, I know to explain to the BO that the oldest/least current HUD-1 was just preliminary data and it "travels" with the package but doesn't get signed.

It's helpful when the date/time are at the bottom of the page showing which is most current. There is also a box at the top of page 1 that has date and time as I recall.

Reply by BossLadyMD on 12/21/11 12:47pm
Msg #407229

Some are stamped FINAL in the upper corner on my docs n/m

Reply by Jack/AL on 12/21/11 2:30pm
Msg #407250

Some are stamped PRELIMINARY in the upper corner. n/m