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Updated almost 6 years ago on . Most recent reply
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where is assignment fee located on final HUD-1?
hi,
so I've only done assignment fees outside of closing thus far - on what line is the assignment fee stated in going through escrow and thus getting reported on the final HUD?
thanks
Most Popular Reply
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If I said I appreciate the responses I would be a liar.
I'm not sure if my question was worded incorrectly or if there's a full moon or something but based on the responses I went ahead and did some work outside of this forum.
So, I asked a currently-producing wholesaler and two different title companies.
Here's what one of the title companies wrote:
"You are absolutely correct! Any charge, credit, or funds passing through escrow must show on the HUD-1. The charge would show in the 1300 section."
@Wayne Brooks Thank you for your reply.
Next time a question is asked any respondent should have actual and current knowledge of the topic. Perhaps, many years ago the assignment fee wasn't on the HUD when going through escrow. But it most certainly is now - and that's very important.
It may also help to be an actual wholesaler who is active in the marketplace.
good luck to you all.