Predatory Lending Procedural Update

Effective Date: 
Tuesday, September 23, 2008 - 12:00pm

Special Bulletin: Sent 9-23-2008

Predatory Lending Procedural Update

ATTN: Chicago-Area Members

In an effort to relieve the confusion caused by including the fee for the Certificate of Compliance and Certificate of Exemption on our HUD-1 Line 1101 as part of the Closing Fee, we will return to listing them separately. The HUD-1 will be revised to show line 1101 as Escrow Closing Fee. On the HUD-1 Services screen, check either Certificate of Compliance or Certificate of Exemption, which will result in the appropriate charge and description being placed in Section 1100 of the HUD-1.

If you have any questions, please feel free to contact the Underwriting Department.

Last update: 3-19-13

Posted on: Tue, 09/23/2008 - 12:41pm