Real Estate & Property Law

Beware of Title Express Glitches

By Francine D'Elia Wirsching

Warning: Do not wait until you have your first settlement that requires use of the new HUD-1 before trying out your software. I promised myself I would create a “dummy” file so I could run the new HUD-1 through the ringer. Unfortunately, I never got to it.

The hours and hours I spent with Title Express on Friday solved some issues, but uncovered another major problem. I am waiting to hear back on that one. Luckily settlement is not scheduled until four o’clock on Monday.

Upgrade to the Latest Version

No matter which software vendor you are using, make sure you have the most recent version. I upgraded to the “most” recent version on Friday and thought that would take care of all the issues. It had not. I called Title Express and another update had been issued within the half-hour of my last upgrade!

We are using Title Express Version 6.13.7.1259 which was installed late Friday afternoon.

Disbursement Danger

Why checking data entry isn’t enough.  I discovered a major flaw while validating the HUD1-A. When selecting “transfer from HUD-1″ under the disbursement tab, the information contained in the HUD1-A does not transfer accurately. The calculations are not correct and if you are not checking to verify if the file is in balance, you could be issuing checks that do not match your HUD-1.  It is my understanding that this flaw is not limited to my installation. I believe it is system-wide and Title Express is working on it.

Also, prior to installing this latest version, these were problems I experienced:

• Dollar amounts would disappear from the column.
• Loan term information would go “poof” when I went to print.

Suggestions:

• Upgrade to the latest software version and report any glitches immediately to the technical support staff of your chosen vendor.
• Check and re-check after printing your HUD Settlement Statement. Even if you go back and add a line item and reprint, you must re-check every item.
• Have a second set of eyes verify everything.  The form is confusing and the errors can be hard to spot.

The technical support staff at Title Express has been very responsive in addressing these issues; however, the disbursement glitch was not able to be fixed yesterday afternoon.  I suggested that Title Express send an email to all its users notifying them of this issue.

Together we will all get through these changes required under RESPA.

Full post as published by Clearing Title on January 23, 2010 (boomark / email).