Replies to This Discussion

Permalink Reply by Bryant Tutas on October 26, 2011 at 9:19am

Are you saying that HSBC won't approve the HUD? If that's the case I have closed many short sales where the lender didn't need to approve the final HUD. As long as the closing agent has a payoff letter I'm not sure why this would be an issue. Maybe I'm missing something.

Permalink Reply by VIctor T. Gurrola on October 26, 2011 at 9:44am

California title and lenders are are asking for signed off huds, every lender here has been doing so but for some reason hsbc is not.

Permalink Reply by joe beauchamp on October 26, 2011 at 2:59pm

OK, a lot of "interesting" things happen out there in the left coast - but are you sure you just don't have a persnickety title co?  I have one that is insane.  They apparently got burnt once and now claim I could have modified the email or fax, etc.  It doesn't matter what I say, they insist on the HUD being approved and in no way can I be able to modify it.  It makes NO sense - they have the approval letter - if it doesn't specify that the HUD must be blue then they've done their job even if it is red.  I do everything I can to get sales away from these crazies.  So, I'm wondering if you just ran into some crazies of your own.  Really, if HSBC gave an approval and says they don't care what the HUD looks like, just follow the approval, why do you want to force them to look at your handiwork? They don't care..  And, in HSBC's defense, maybe you are trying to pull something by making them approval a HUD where you slipped something in (or some stupid slipup by some doc person at HSBC) and violates their approval letter.  Why should they take that chance if they don't want to?

Most closing officers realize that title co's have a lot of pinheads, too.  Closers usually accommodate strange requests to get the file closed.  HSBC doesn't seem to want to put up with petty nonsense, no?

Permalink Reply by Jeff Payne on October 27, 2011 at 2:18am

Spot on Joe.  We run into some crazy title issues with closers on REO files here in Florida, some things that you would never believe :)

Permalink Reply by Jeff Payne on October 27, 2011 at 2:17am

I have NEVER seen the short sale lender sign a HUD, actually there isn't a place for them to sign.  They will approve the HUD for the title company.   I agree with Bryant, if the closing agent has a payoff letter and all of the numbers jive, close it or find a closer that will.