Posted by Budman on 12/15/12 11:24pm
Msg #446694

HUD 1 missing

I printed a package for a signing tomorrow (Sunday) and I noticed there was no Hud 1. I called and told the scheduler and they said it was ok as long as there was an estimated closing cost statement. That's a first for me.

Buddy

Reply by HSH/WA on 12/15/12 11:36pm
Msg #446696

Re: Let us know what the lender says when you send it back n/m

Reply by Shoshana/AZ on 12/15/12 11:38pm
Msg #446697

I was a CA notary from 2002 to 2006. In those days I came across quite a few packages that only had the estimated settlement statement.

Reply by 101livescan on 12/16/12 8:59am
Msg #446708

Likely, the escrow officer did not finalize the numbers with the LO before the signing had been scheduled and the docs sent to them for the closing and emailing to the notary.

Make sense? Generally it is the last item in the package to be finalized, oh, yes, and all those disclosures we find we're printing for LO who should have had these done within 72 hours of the rate lock being fixed.

Always last minute snafus. As I borrower, I would want to know what the latest and greatest numbers are.

Reply by Pro Mobile Notary on 12/16/12 9:34am
Msg #446714

It happens once in a while. We had one last week where the escrow officer forgot to include it in the package.

Because the HUD-1 does not require any notarization, the escrow officer simply emailed it the borrower, asked them to sign it and return it with the FedEx label provided.

Reply by janCA on 12/16/12 9:42am
Msg #446718

Back in the day (2004-2007) it was rare that the packages contained a HUD I, only the Estimated Statement was included.

Reply by Pro Mobile Notary on 12/16/12 11:19am
Msg #446731

Jan, in our geographic area most of the escrow officers still use their estimated closing cost statement on top of the HUD-1 because it is easier for borrowers to follow and it is easier to explain.

They do this to make the signing go more smoothly whether they are doing the signing or sending it out to outside signing agents or a service and it is for their files and not for the lender.