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#1440209 - 09/08/10 06:00 PM Signature required on HUD-1
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
Our new compliance consulting firm is saying that the RESPA rules require that the HUD-1 be signed by the borrower. Our old firm said that (though it is advisable), technically the reg does not require the HUD to be signed.

Can someone clarify?

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RESPA
#1440243 - 09/08/10 06:44 PM Re: Signature required on HUD-1 Many Hats
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,886
Bloomington, IN
Ask your new compliance consulting firm to show you what section of 3500.8 or Appendix A requires a signature, then advise them to hire their own consultant because they need one.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1440327 - 09/08/10 07:55 PM Re: Signature required on HUD-1 Dan Persfull
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
Sounds like a plan. Thanks! smile

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#1440485 - 09/09/10 12:33 AM Re: Signature required on HUD-1 Many Hats
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
More than likely it's the secondary market that will require the HUD-1 be signed. It's not a RESPA requirement, but if you sell your loans, you may risk having your loan bounced back to you. (Not fun.)
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CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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