RESPA problem

3 Replies

I just closed on a duplex and it was a nightmare closing docs not at the title company till one hour after closing,because proccesor never sent it to underwriting till day of closing even docs were submitted three weeks before closing, lender loosing docs huge mess.Once it was worked out here are the issues.

The initial GFE and second GFE were not on the new GFE form, they did not dislcose tranfer fees on either one.

I requested a settlement statment prior to close and did not get it.

The closing took 6 hours because the lender kept screwing up the settlement statement.The HUD-1 at closing did not have page 3 completed just a line through the page with with NA hand written
I compared the GFE with the HUD-1 and found I was charged 60 percent more for title insurance, 50 percent more for title fees and 15 percent more for the appraisal.

My questions are since the GFE was on the old form does it meet the requiremnts of GFE within 3 days.

I believe they violated RESPA with the excess fees Do I file with the state banking authority, HUD in D.C., or the bank or all three?

Can I seek compensation for the excess fees plus my time to purse it or seek legal help ?

I have purchased and sold many homes and never had a problem with a lender like this.

Thanks for any help !!!

Contact HUD, that's not in compliance. They should have set closing off until the ducks were in a row, sounds like a pushy Realtor wanted a commission check or the seller was in a big hurry to run to the bank. :)

At this point probably an R.E attorney consult might be a good idea.

You can try lot's of things but end up wasting a bunch of time and not get the result you want (money back).

There are rules and laws and then real world application and interpretation of those laws. The consult attorney that specializes in R.E. if they are honest will tell you if it's worth pursuing or not.

Good point Joel, but HUD can give you satisfaction sometimes with or without money going back to you. I agree with Joel, speak to an attorney as to the reality of any claim......but six hours? Wow! :)

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