Why does HUD still work in the 20th Century? In a big way, HUD is on the cutting edge with having a program allowing all offers to be done online. But then they revert backwards by only accepting original signatures in blue ink. This is absurd!! 
So, once a bid is accepted, you have 2 business days to get the originals to their office. Signatures, as I said, must be in blue ink. There is a spot on the contract that asks for the name of the Broker and then the agent representing the buyer and then asks for a signature. Each broker runs their offices differently, and my broker is one of those that says if he's going to hold your license, you represent him, and you can sign paperwork as the representative. I've never had a problem with this with other foreclosure properties, even VA foreclosures and dealing with OCWEN.
I'm lucky, and the HUD office is only about 20 minutes from me, so I didn't have to next day air anything for delivery. I hand carried the contract into their office and it was accepted. I then received a fax saying they needed my broker's signature. I run to my office to get my broker's signature and get them the page. I then get an email saying they could not "marry" the two documents together and the buyer's original blue signature needed to be on the same page as the broker's original blue ink...
I called their office, but got voicemail, and left a message asking how I was supposed to get an original broker's signature on the same page as the buyer's when they already had my buyer's original signature. They said I had to get the buyer to resign everything. What? Then I had to explain to them that my buyer was out of town. They didn't care. I explained again how I was doing everything in my power to get them what they wanted but giving me a 3pm deadline on Monday was doing no one any good when one of the signatures was unavailable.
After a few back and forth emails, she wouldn't pick up the phone and talk with me, HUD did give me an extension until Wednesday to get them the signatures... What did I have to do? I had to run all over town in the pouring rain with a 25 day old to get my broker's blue signature and then the buyer's blue signature to get it back to the HUD office.
To top things off, the buyer is going through Bank of America for his loan and they won't do anything without an executed contract from HUD. I explained that HUD works on their own time frame and to please start the processing, in which they said no. I pressed HUD for an executed contract, so what did I receive from them?? I received an email stating that I would receive the executed contract within 2 business days via email.
What? Why should I have to accept an email contract but they won't? Why should we have to wait 2 business days when they've got everything and only need to sign 1 page? We want to close this in December, and it would behoove HUD to close before year's end as well, but they act like they don't care and though they expected me to run around with a fire under my tush, they have no fire at all, only smoke.
HUD, get into the 21st Century and accept email contracts and who cares about Blue ink?? If you want to run your operation more efficiently and friendly, you should work with us who are wanting to remove the properties from your inventory!! Get with it!! I'm still waiting for my executed contract to turn in for the loan processing to begin...
I never get the "easy" deals...
HUD foreclosures were my bread and butter for many years when I first got in the biz about 10 years ago. Their system has come a long way. Do you remember when we used to have to make carbon copies of the contract?? The online system is much better but I'm with you on the 48 hour deadline for originals and such. They waste more time emailing you about what you did not do or did not include.
Having worked as a contractor for the RTC this is not uncommon for government offices ... someone must have a job just looking to see if paperwork is done completely. And think about the fact that we pay for this as taxpayers.
I could go on and on but I will keep it short:
HUD Sucks!
Derrick, VERY hard to believe...
Calvin, That's probably a good thing... stay away if you can!
Allen, As I said above, being salary and not commission, they're going to check, double check, and check again even when it's pointless.
Jay, Thanks! She experienced Rain for the first time, but glad a friend gave me one of those covers that goes over the infant seat to protect her from the elements.
Julie, HUD foreclosures are not just FHA. Almost any foreclosure that the bank doesn't want to deal with goes to HUD when the bank just wants their insurance from the property.
Rhonda, very interesting...
Chad, Exactly!
The NEED for blue ink is outdated, some copiers now make any copy look like an original.. Is HUD going to have the ink tested to prove its an original? I think not. At some point we should be respected for being a member of an ethical profession. (I know some are not, but you cant police morality).
The blue ink that was questioned in my contract was a bluish-purple color, but it was blue. Then again, the Optic Nerves that transmit color vary from person to person so color appearance is a variable from person to person.
Donna: Is there anything that GOV'T can do better than privatized business can? My hat is always off to our Armed Forces (except the waste) but beyond that...
What a joke. I hate stupid technicalities like that. As if it makes a difference when the signature was signed by the two parties. They were signed. Its such a nusiance just to try to please their ridiculous policies.
I once had a broker flip out at me because my buyer missed a couple dates on a Centerville House they were trying to buy. They signed everything, they had some dates, as if they signed page 3 of the purchase contract on a different day as page 4. People get too worked out over minor technicalities.
VA is also in the dark ages. Every lender will allow the buyer to pay a portion of the buyer agency fee if the co-broke fee does not cover the entire amount due the buyer broker. This is a problem where we have brokers who offer very low co-broke fees -- or in some cases there are flat fee mls only listings! The buyer deserve representation. I don't know if anyone has any clout in Active Rain, but this needs to be changed to be in line with HUD and other lending programs.