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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I need help finding mistakes on a HUD1 statement and good faith

Customer Question

I need help finding mistakes on a HUD1 statement and good faith estimates
Submitted: 1 year ago.
Category: Finance
Customer: replied 1 year ago.
Can you please find the mistakes or whatever is missing on the HUD1 and good faith estimates. See the attachment.
Expert:  bkb1956 replied 1 year ago.
Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.What type of mistakes or missing information are you looking for? A comparison of the GFE to the HUD-1?By law, a HUD-1 is supposed to be 100% accurate based on the transaction details.Thank you and best regards,Barb
Customer: replied 1 year ago.
This is a fictitious HUD1 designed to see how much you can point out any revisions that need to me made. Yes I'm looking for the revisions needed based on the GFE and the info already provided one the HUD1 or any mis calcs on the HUD1.
Expert:  bkb1956 replied 1 year ago.
I understand now. What's the deadline?
Expert:  bkb1956 replied 1 year ago.
There are two HUD-1's. Incorrect/missing info based on GFE vs. each HUD-1, HUD-1 vs. HUD-1?
Customer: replied 1 year ago.
The deadline is today at 12pm Est. If you can't assist then I will go with what I already have and know.
Customer: replied 1 year ago.
Yes 2 separate HUD1s and GFE
Customer: replied 1 year ago.
Each one is separate and needs it's own revisions
Expert:  bkb1956 replied 1 year ago.
I cannot meet your deadline. It's the end of tax season!I will opt out and perhaps another expert will be able to assist.
Customer: replied 1 year ago.
That's ok. I will finish with what I have. I am declining further assistance
Expert:  Andy4712 replied 1 year ago.
You can use the example:http://www.mbh.com/images/MBH_HUD1.pdfThe settlement charges do not total over correctly
Expert:  Andy4712 replied 1 year ago.
Here is a better example:http://wearemercurystudios.com/projects/milestone/wp-content/uploads/2013/08/Milestone-Final-WEB-HUD-1.pdf
Expert:  Andy4712 replied 1 year ago.
The taxes are not being prorated correctly.