RESPA statements and appraisal fees

[Pat Butler]

It could indeed be a RESPA violation but you need to realize that HUD-1 shows a number of payouts that still aren't likely to have occurred when the HUD-1 was signed by everyone.

It will show a mortgage payout, when in fact, the mortgage payout will typically be expressed to the lender within a day or so of closing. Tax and insurance payments, and escrow amounts are handled in the same way.

So the timing of the payments don't necessarily indicate a violation.

 

[Anonymous]

NC has yet to license the indvidual brokers, but the companies are andmust follow banking commision rules. I have used this more than onec to collect fees.

It is funny how fast they are willing to pay for "that appraisal we couldnt use" when a copy of a letter is sent to them that I sent to the banking commission.