Posted by HisHughness on 10/12/12 5:28am
Msg #438261

This pertains to an earlier thread on Chase loans

I didn't want the question to get lost in that thread.

Quoting from a HUD explanation of RESPA:
"In cases where there is no settlement meeting, the escrow agent will mail you the HUD-1 after settlement, and you have no right to inspect it one day before settlement."

What is a "settlement meeting"?

Reply by TheCloser123 on 10/12/12 6:26am
Msg #438265

Has that changed? I thought they had to provide the settlement statement 24 hours prior to closing (which they never do)

I'm assuming settlement is referring to "signing" or "closing" but again, I've got my hinny bitten for assuming. So thank you for presenting the question ;-) I'd like to know as well

Reply by sigtogo/OR on 10/12/12 3:46pm
Msg #438329

settlement date=funding date. settlement meeting? who uses

that term? no one that I know of!! Likely a case of attorneys and gov't officials (the rule makers and writers of rules) not knowing the lingo in the real world but the term get's used in legal forms. I imagine, Hugh, you've seen alot of that over the years.

I'm guessing, I said guessing, where they would have no right to inspect would pertain to when docs are sent to borrowers for signatures and they don't actually sit down with us, escrow, lender, someone to sign. And, of course, it goes without saying but I will say anyway, they may have the right to see beforehand but many times do not see until signing. but they do have the right!! but do they know they have the right is a horse of a different color....

Reply by sigtogo/OR on 10/13/12 7:32pm
Msg #438468

I lied, the Hud I have in front of me has settlement=signing

could they just stick with one definition. good grief!