RESPA Task Force Analyzes Tolerance Cure Alternatives
April 27, 2010
Recent updates to HUD’s FAQS now allows tolerance cures to be handled with an adjustment to the out of tolerance charge on page 2 and another method that involves a credit for the cure amount in lines 204-209 on page 1 of the HUD-1. Read on to learn why the Task Force believes that putting the tolerance cure amounts in a single location on page 1 of the HUD-1 would be easier to program for and to review than showing adjusted charges in several locations on page 2.
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