RESPA Help for Closing Agents
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With January 1st quickly approaching, have you been wondering how you are going to ensure that your closing agents (attorneys, title companies, etc.) complete the new HUD Settlement Statements correctly? Well, the American Land Title Association (ALTA) has released a form to do the job! It's called the "Uniform Supplemental HUD-1/1A Instructions" and provides instructions to ensure proper completion.
Financial institutions may provide this form to their closing agents to assist them in the implementation of the new rules. The instructions are provided to have the look and feel of the new Good Faith Estimate and HUD Settlement Statement. This may an easy and valuable tool for you.