Replies to This Discussion

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on November 14, 2011 at 4:39am

Hi Wendy -

 

I have not had one like this but it's always good to twist my brain around something new.  I would suggest submitting it the way it actually is EXCEPT - I suspect there are actual seller expenses but they are being paid by the employer / relocation company so the expenses should be shown on the HUD but being paid by teh relocation company (Credit from Relocation Company to Seller's costs)

Just a thought...

 

Thom Colby

Broker

Newport Beach & Palm Desert CA

Permalink Reply by Kevin - Greenville, SC on November 14, 2011 at 4:56am

https://www.efanniemae.com/sf/servicing/hafa/

Permalink Reply by joe beauchamp on November 14, 2011 at 8:02pm

Cool - however, the HUD-1 must have all expenses of the transaction listed, regardless of who paid, so there will be expense.

I, personally, would be inclined to include normal expenses.  The approval that you get will say "no more than x commission, no more than y expenses", etc.  Then you won't raise eyebrows at the bank and QC dept's.  With BOA, you don't want to do something unusual.  Then the title co final hud-1 (after your approval) will have the real expenses.  The closing officer should be thrilled at bringing in more money and fewer people will be involved in your weird little situation.